Acumen Advisory Group LLC signed an agreement to acquire IM Minerals Limited from Pathfinder Minerals plc (AIM:PFP) for £21.3 million on March 22, 2023. The consideration payable by AAG to the Company is £2 million on Completion and the greater of £19.3 million or 20% of the aggregate amount (including all deferred or conditional payments) payable on settlement or determination of the Claim less all reasonable costs and expenses properly incurred in respect of the Claim. Under the SPA, AAG confirms that it has secured funding for at least £12.06 million to fund the Claim. The completion of the disposal is conditional upon the approval by shareholders of the resolution relating to the disposal at the General Meeting to be held on or before April 26, with completion due on the date falling two business days from the passing of the Resolution. As of April 21, 2023, a revised SPA was signed with an improvement in the structuring mechanics in relation to the potential deferred consideration. As of July 28, 2023, a revised SPA was signed, where an initial £1 million would be paid upon completion and a larger contingent of the greater of £23.33 million or 25% of the aggregate amount payable on settlement or determination on the claim against the Mozambique government. Completion of the pact is conditional upon shareholder approval at a general meeting to be held on or before August 31. James Spinney and team are acting as financial advisor to Pathfinder in this transaction.

Acumen Advisory Group LLC completed the acquisition of IM Minerals Limited from Pathfinder Minerals plc (AIM:PFP) on August 18, 2023. The transaction has approved by the shareholders of the Pathfinder Minerals Plc and accordance with the Revised SPA, the £1 million initial consideration has been received by Pathfinder Minerals. Allenby Capital Limited acted as financial advisor to Pathfinder Minerals plc.