Dreadnought Resources (ASX:DRE) entered into a share subscription agreement with Black Cat Syndicate (ASX:BC8) over part of the Mangaroon project in Western Australia, according to a Monday filing with the Australian bourse.
Black Cat is applying for AU$1 million worth of Dreadnought shares at AU$0.01 apiece under the deal, with the funds to be used for exploration and working capital, the filing said.
The agreement's completion is contingent on the company raising an additional AU$2 million by Feb. 10, per the filing.
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