Critical Resources Limited (ASX:CRR) agreed to acquire Gullwing-Tot Lakes property from Power Metals Corp. (TSXV:PWM) for CAD 1.2 million on December 16, 2022. The total consideration consists of cash payment of CAD 600,000; issue of CAD 600,000 in Critical Resources Limited's securities; and 1% Gross Margin Royalty for mineral production within the mining claims acquired by Critical Resources. The agreement is subject to completion of due diligence requirements to the satisfaction of Critical Resources, within 14 days of the agreement execution. As of December 29, 2022, the agreement was subject to completion of due diligence requirements to the satisfaction of the Company which has now been completed.

Critical Resources Limited (ASX:CRR) completed the acquisition of Gullwing-Tot Lakes property from Power Metals Corp. (TSXV:PWM) in January 5, 2023.