• $2.3 million strategic placement with Topgroup
• Non-binding MOU to form 50:50 drilling and blasting JV 'Drillforce WA'
• JV combines Aquirian's technology and energetics with Topgroup's drilling expertise

Aquirian Limited (ASX: AQN) has announced a strategic placement and partnership proposal that marks an important step in the company's growth and earnings strategy. The company has completed a $2.3 million placement (before costs) and entered into a non-binding Memorandum of Understanding (MOU) with Topgroup (Corp) Pty Ltd (Topgroup), the 100% owner of Topdrill Pty Ltd, to establish a 50:50 Joint Venture (JV), Drillforce WA. The partnership brings together the complementary strengths of both groups to create an integrated drill and blast services business that will leverage the combined expertise, assets and technology of Aquirian and Topgroup to deliver a unique service offering for its clients. The MOU outlines the intent of Aquirian and Topgroup to form the JV to deliver integrated drill and blast services through Drillforce WA. The JV will be capital light for Aquirian, with both parties contributing assets, technology, products and expertise on agreed commercial terms. The collaboration has the potential to deliver a full end-to-end drill and blast solution for clients, while enhancing efficiency and scale across both businesses. The placement will result in the issue of 5,200,000 new fully paid ordinary shares at an issue price of $0.45 per share, raising $2.3 million before costs. Funds raised will be applied towards accelerating the commercialisation of Aquirian's technology portfolio and for general capital management purposes.

The partnership with Topgroup represents a strong validation of Aquirian's proprietary technology, expertise and market position. The collaboration has the potential to deliver a full end-to-end drill and blast solution for clients, while enhancing efficiency and scale across both businesses.