M&A - Energy Exploration Technologies, Inc.

Form Type: 1-U

Filing Date: 2025-07-09

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225018390

Filing Summary: On July 4, 2025, Energy Exploration Technologies, Inc. entered an exclusive, binding conditional offer letter (the 'Letter Agreement') with Pantera Lithium Ltd. and its subsidiaries, Daytona Lithium Pty Ltd and Folsom Point Energy LLC, regarding the potential acquisition of the Target Companies and their assets. The primary asset involved is the Pantera Li Brine project in Southwest Arkansas, strategically located near significant industry players. The acquisition transaction involves a cash consideration of up to AUD $6 million and the issuance of approximately 2.34 million shares of Common Stock valued at AUD $34 million, with closing anticipated around October 1, 2025. The agreement also includes conditions such as due diligence, regulatory approvals, and a covenant to prevent Pantera from seeking alternative offers during the exclusivity period. The Letter Agreement can be terminated if conditions are not met by January 4, 2026, but is currently binding subject to execution of a Definitive Agreement.