Winsome Resources (ASX: $WR1) announcement overview

Winsome Resources (ASX: $WR1) has received court approval for the exclusive Option Agreement to potentially acquire the Renard diamond mine assets. The Superior Court of Québec has approved the Option, allowing Winsome to assess the feasibility of repurposing Renard and negotiate definitive documents for the proposed acquisition until 30 September 2024, unless extended.

Executive commentary on Renard Project acquisition

Winsome Resources is pleased to announce the court approval of the Option Agreement for the potential acquisition of the Renard diamond mine assets. We will utilize the Option Period to thoroughly evaluate the technical, economic, environmental, and social feasibility of repurposing Renard, as well as to identify the optimal transaction structure and negotiate definitive documents for the proposed acquisition. It's important to note that there is no guarantee of exercising the Option or completing the Proposed Acquisition, as both are subject to conditions, including Court approval.

Summary of court-approved Option Agreement for Renard Project acquisition

Winsome Resources (ASX: $WR1) has obtained court approval for the exclusive Option Agreement to potentially acquire the Renard diamond mine assets. The approval allows Winsome to assess the feasibility of repurposing Renard and negotiate definitive documents for the proposed acquisition until 30 September 2024, unless extended. The company has paid the C$4 million Option fee, which is intended to fund Stornoway's care and maintenance costs during the Option Period. Winsome Resources emphasizes that there is no guarantee of exercising the Option or completing the Proposed Acquisition, as both are subject to conditions, including Court approval. Winsome Resources, a Perth-based lithium focused exploration and development company, aims to leverage this opportunity to expand its portfolio and further its corporate strategy.