Burley Minerals Ltd (ASX:BUR) entered into a Binding Term Sheet to acquire Spodumene Pty Ltd from a group of shareholders for AUD 2.11 million on March 31, 2023. Burley Minerals entered into a binding agreement to acquire Spodumene Pty Ltd on April 3, 2023. Burley will acquire Bouvier Lithium Project as part of the transaction. The consideration includes upfront cash payment of AUD 0.02 million, AUD 0.33 million payment for the vendors and the issuance of 5.5 million of common shares. The transaction is subjected to consummation of due diligence, regulatory and shareholders' approval. The transaction is expected to be completed by July 31, 2023.

Burley Minerals Ltd (ASX:BUR) cancelled the acquisition of Spodumene Pty Ltd from a group of shareholders on August 4, 2023. Burley Minerals Ltd and Spodumene Pty were not able to satisfy all the conditions precedent to the extended expected completion date and agreed to terminate the agreement.