Carbine Resources Limited (ASX:CRB) agreed to acquire Muchea West Silica Sand Project from Wendy Hogan, Messrs Sivagami Selvakumar, Brenton Parry, Paul Browne and others on April 1, 2021. Carbine will issue approximately 200 million shares and 50 million options as part of consideration. Carbine will also pay AUD 0.5 million in cash to Muecha creditors. Carbine will raise AUD 2.5 million by issue of 83.3 million shares. Carbine will issue 25 million unquoted options to Golden Triangle Capital Pty Ltd as facilitation fees upon completion. The loss of Muchea West Silica Sand for the year ended 30 June 2020 amounted to AUD 116,519. If any condition is not fulfilled by April 30, 2021 Carbine or Muecha can terminate the term sheet. They can also terminate the term sheet if ASX does not approve the deal or re-quotation of shares. Upon completion Messrs Peter Main will be appointed as Non-Executive Chairman and Peter Batten will be appointed as Managing Director whereas Evan Cranston will remain on the Board as a Non-Executive Director, Mathew O'Hara and Oonagh Malone will step down as directors of Carbine. The deal is subject to approval from ASX, Carbine Resources Limited shareholders, cancellation of options, obtaining financing and consummation of due diligence. As of April 29, 2021 The transaction is expected to be completed on June 8, 2021. Carbine Resources Limited (ASX:CRB) completed the acquisition of Muchea West Silica Sand Project from Wendy Hogan, Messrs Sivagami Selvakumar, Brenton Parry, Paul Browne and others on July 22, 2021. In connection with the transaction, Carbine Resources Limited has successfully raised AUD 3 million (before costs) at an issue price of AUD 0.03 per share pursuant to a public offer under a prospectus and is now fully funded to for a proposed two year exploration program at the Muchea West Project.