EMP finalizes acquisition of 3 Mining Leases

Emperor Energy Limited (ASX: EMP) has announced the execution of an Asset Sale and Purchase Agreement to acquire 3 Mining Leases covering 128 Hectares in North Queensland, Australia, situated between Townsville and Charters Towers City. Historical records suggest these Mining Leases were previously used for Gold mining in the 1890s and 1930s through minor-scale hand working techniques.

Emperor Energy, after conducting site inspections and due diligence, finds the leases potentially rich in Gold resources. The acquisition involves a payment of AU$450,000 in cash and issuing AU$50,000 worth of fully paid ordinary shares in Emperor Energy to the Vendor, calculated based on the volume weighted average price of the Buyer's shares on the ASX for the 30 days leading up to the satisfaction of all conditions in the Agreement.

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