Namibia Critical Metals Updates Transaction with Sylla Gold Corp.

Namibia Critical Metals Inc. (NCMI) has announced an amendment to its share purchase agreement with Sylla Gold Corp. Sylla will acquire a 95% interest in NCMI's Namibian subsidiaries, which own the Grootfontein, Erongo, Otjiwarongo, and Kaoko licenses. This agreement also includes associated assets.

In exchange, Sylla will issue 3,000,000 common shares at $0.05 per share and make a cash payment of $100,000 to NCMI. The transaction's closing date is extended to August 31, 2024. All other terms remain unchanged. Closing is subject to regulatory approvals and TSX Venture Exchange acceptance.

President Darrin Campbell, also a director at Sylla, highlights the non-arm's length nature of this transaction. NCMI is recognized for developing the Lofdal Project, a significant heavy rare earth deposit, in partnership with Japan Organization for Metals and Energy Security (JOGMEC).