Obtala Limited (AIM:OBT) has entered into a share purchase agreement to acquire remaining 25% stake in Montara Continental Limited from Africa Resource Investment Limited for $5 million on January 10, 2019. The consideration included $2.5 million which is to be settled within 14 business days and remaining differed consideration of $2.5 million to be settled within 10 business days of the Obtala's sale of the Tanzanian Subsidiaries. If the sale of the Tanzanian Subsidiaries by Obtala is not completed by April 30, 2019 at its discretion, can choose to settle the deferred consideration by either of $2.5 million cash or Obtala will issue its 40 million ordinary shares to Africa Resource Investment. At closing, Obtala will be holding 100% stake in Montara Continental. In a related transaction, Envision Consulting (T) Limited entered into a share purchase agreement to acquire unknown stakes in Magole Agriculture Limited, Magole Land Limited, Milama Processing Company Limited and Wami Agriculture Company Limited from Montara Continental Limited and Montara Limited for $2.5 million on January 10, 2019. Africa Resource Investment to invest all cash consideration from the sale of 25% of Montara Continental into the Montara's ITF note. Woodbois has raised an additional $1.27 million by entering into a subscription agreement with existing institutional investor Lombard Odier. The proceeds of the raise are to be allocated towards the deferred consideration of $2.5 million due to Africa Resource Investment Ltd. The balance of $1.23 million will be settled from the company's cash position. The initial consideration of $2.5 million was settled within the 14 business day payment terms. ARI have confirmed their commitment to invest the total cash consideration of $5 million into the Group's ITF note. David Hignell and Dugald Carlean of Northland Capital Partners Ltd acted as brokers and financial advisors to Obtala.