Battery Mineral Resources Pty. Ltd. signed a share sale agreement to acquire Opirus Minerals Pty Ltd from Hexagon Resources Limited (ASX:HXG) on December 5, 2016. Under the terms of the agreement, the consideration involves issue of AUD 0.7 million in cash and 5 million shares fully paid ordinary shares of Battery Mineral Resources Pty. Ltd. If Battery Mineral Resources Pty. Ltd., does not list within 15 months after completion, Hexagon has a put option to sell the Battery Mineral Resources shares back to Battery Mineral Resources for the higher of their market value at the time or AUD 0.5 million plus a 10% per annum return compounded. The transaction is expected to close by December 23, 2016. As on December 28, 2016, some due diligence items were still outstanding and Hexagon Resources management team will seek to continue to work with Battery Mineral Resources to resolve the outstanding items and aim to complete the transaction on the terms as previously announced. Battery Mineral Resources Pty. Ltd. completed the acquisition of Opirus Minerals Pty Ltd from Hexagon Resources Limited (ASX:HXG) on January 11, 2017. Under the revised terms of the transaction, Hexagon Resources Limited received AUD 1 million in cash and 2 million shares in Battery Mineral Resources Pty. Ltd. for full settlement of all shares and loans owned by Hexagon Resources Limited in Opirus Minerals Pty Ltd. The funds received will support the Hexagon Resources Limited's ability to accelerate the development of its focus project at McIntosh.