Emperor Energy Limited (ASX:EMP) entered into asset sale and purchase agreement to acquire 3 Mining Leases located between Townsville and Charters Towers City in North Queensland for AUD 0.5 million on October 16, 2023. The transaction is subject to Emperor Energy completing its due diligence by October 31, 2023, Emperor Energy completing a capital raising to fund the acquisition, Emperor Energy receiving confirmation of approval of an amendment to the existing Environmental Authority for the Mining Leases to allow for an exploration drilling program, Emperor Energy receiving confirmation from the Landowner that it will consent to Emperor Energy entering onto the area of the Mining Lease to conduct exploration and mining activities, seller receiving notice to the effect that, subject to compliance with the Resources Act and on conditions reasonably acceptable to Emperor Energy, the Minister will or is likely to approve the transfer of the Mining Leases to Emperor Energy in accordance with the Resources Act and Emperor Energy receiving all regulatory and third-party approvals necessary to give effect to the transfer of the Mining Leases and Emperor Energy receiving a valid assignment, assumption, adherence, novation or transfer of all Material Contracts duly executed by the Seller and all relevant third parties. The acquisition is expected to be completed prior to March 31, 2024.