Nova Acquisition now unconditional following ACCC waiver

Key points

• Acquisition of 100% of Nova Operation from IGO Nova Holdings
• ACCC granted a notification waiver for the acquisition
• Acquisition now unconditional, expected to complete within 10 business days

Full summary

Global Lithium Resources Ltd (ASX: GL1) has announced that the acquisition of 100% of the issued share capital in IGO Nova Pty Ltd, the owner of the Nova Operation, from IGO Nova Holdings Pty Ltd, a wholly owned subsidiary of IGO Limited, has become unconditional following the Australian Competition and Consumer Commission's (ACCC) waiver. The ACCC has determined that the acquisition is not required to be notified. Completion of the acquisition is expected to occur within 10 business days of the earlier of the cessation of IGO's mining and processing operations at Nova and departure of the final product shipment from the Port of Esperance, 30 November 2026, or such other date as agreed by Global Lithium and IGO Nova Holdings.