Details of termination of proposed transaction

NewPeak Metals Limited (NPM) and Southern Cross Brittania Limited (SCB) have mutually agreed to terminate the proposed transaction outlined in the ASX Release dated 15 June 2023. The deposit of US$20,000 paid by NewPeak has been refunded.

Executive commentary on the termination

The termination of the proposed transaction with SCB was a mutual decision reached by both parties. We believe this decision is in the best interest of both companies and will allow us to focus on our respective strategic priorities. We remain committed to creating long-term value for our shareholders and pursuing growth opportunities.

Summary of termination and outlook

NewPeak Metals (NPM) and Southern Cross Brittania Limited (SCB) have mutually terminated the proposed transaction, and the deposit of US$20,000 paid by NewPeak has been refunded. The termination was authorized by the Board of Directors of NewPeak. Looking ahead, NewPeak remains dedicated to delivering value to its shareholders and pursuing growth opportunities in line with its strategic priorities.