Novak Holdings Ltd signed a conditional agreement to acquire Tantalum Mineracao e Prospeccao Limitada from Pacific Wildcat Resources Corp. for $0.25 million.

Novak Holdings Ltd signed a conditional agreement to acquire Tantalum Mineracao e Prospeccao Limitada from Pacific Wildcat Resources Corp. (TSXV:PAW) for $0.25 million in cash on August 6, 2015. The consideration includes $1,315 for the purchase of 0.05 million shares of Tantalum Mineracao and $0.25 million in cash at closing for the payment in full of all the loans advanced by Pacific Wildcat Resources loans to Tantalum Mineracao e Prospeccao.

The transaction is subject to conditions precedent, customary to a transaction of this type including but not limited to, regulatory approval as well as the release of the security on the asset as previously granted to European Projects Products and Services International Limited. The sale of Tantalum Mineracao allows Pacific Wildcat to look for new opportunities and reduces Pacific Wildcat's working capital requirements.