Ookami Limited (OOK) has entered an agreement for the acquisition of two advanced lithium permits in Mali, West Africa. The Faraba and Gouna permits cover an area of 175km2 in the Sikasso region of Mali, about 200kms from the capital, Bamako.
In acquiring the capital of First Lithium Pty Ltd (Australia), Ookami will indirectly acquire the capital of Intermin Mali Lithium Holdings (Mauritius), who in turn holds the permits through Intermin Lithium SARL (Mali). The acquisition amounts to a significant change to Ookami’s activities and is conditional on obtaining all necessary approvals, including for the reinstatement of its shares on the ASX.
Ookami intends to raise $2 million by public offering to support the exploration of the newly acquired permits. It also plans to change its name to ‘First Lithium Limited’, and to continue exploration operations at its Messok East Project in Cameroon and Boulbi in Senegal.
The Serus team, based in the US and Australia, engaged its local network to complete a detailed legal review of the assets, supporting Ookami’s compliance with ASX requirements.
Joseph van den Elsen, CEO of OOKAMI, said: “Ookami is delighted to have entered into this transaction, paving the way for our reinvigorated Board and Management to pursue its strategy for these assets in Mali. Serus Legal and their Mali network provided great support and we look forward to working with them further as we develop these projects.”
Peter Finan, Managing Partner of Serus Legal, said: “As always, we’re delighted to support OOKAMI and to have played our part in completing this important transaction. Our team drew on all of its experience and skills to ensure its satisfactory completion.”
The Serus Legal team was led by Peter Finan and Marc Montandon, supported by Ismaël Itoua in Senegal, and Ousmane Koulibaly in Mali.
Need Help in Mali? – At Serus Legal, we have a bilingual team that advises on projects across Africa. With our extensive network, we help with asset acquisitions, and preparing agreements such as royalty, JV, and earn-in.
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For more information, please email felix@seruslegal.com or info@seruslegal.com