Theta Gold Mines Limited (ASX:TGM) made an offer to acquire Focus Minerals Limited (ASX:FML) from Shandong Gold International Mining Corporation Limited and others for AUD 65.8 million on December 9, 2021. The Company notes the TGM Intended Offer is unsolicited and subject to a number of conditions. As per the second supplement bidder's statement filed on January 18, 2022, TGM would not be able to acquire 100% of Focus Shares under the Offer. In these circumstances (that Shandong Gold does not accept the Offer in respect of those of its Focus Shares to which the Offer relates), the maximum interest that TGM could acquire in Focus as a result of the Offer (in its current form) is 32.65%. As per update on January 20, 2022, Theta Gold Mines Limited recommended its shareholders not to take any action. The offer period will commence from January 18, 2022 to February 21, 2022. Kamara Poulos Group Pty Ltd., Advisory Arm acted as financial advisor for a fee of AUD 60,000 and Johnson Winter & Slattery acted as legal advisor for a fee of AUD 160,000 to Theta Gold Mines Limited in the deal. Boardroom Pty Limited acted as registrar for a fee of AUD 35,000. Hall Chadwick Pty Limited acted as tax advisor. As of January 7, 2022, Shandong Gold will not accept the offer. Azure Capital Pty Ltd acted as financial adviser, MinterEllison acted as legal adviser and Computershare Investor Services Pty Ltd acted as registrar for Focus Minerals. Theta Gold Mines Limited (ASX:TGM) cancelled the acquisition of Focus Minerals Limited (ASX:FML) from Shandong Gold International Mining Corporation Limited and others on January 28, 2022. As of January 28, 2022, Board of Directors of Focus Minerals rejected the offer and recommended shareholder to not accept the offer. As on February 3, 2022, the transaction is declared as wholly unconditional.