Southstone Announces Strategic Diversification With Botswana Uranium Acquisition, While Advancing Oena Diamond Mine

VICTORIA, British Columbia, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Southstone Minerals Limited (“Southstone”) (TSXV – SML) is pleased to announce that it has entered into a binding term sheet (the “Term Sheet”) dated 18 February 2025, with Afrium Energy Pte. Ltd. (“Afrium”), pursuant to which Southstone has agreed to acquire all the issued and outstanding securities of Afrium (the “Acquisition”), an arms-length party, (and collectively with the Concurrent Equity Financing as defined below, the “Transactions”). Afrium, a private Singapore corporation, is the holder of 100% of two private subsidiaries, Afrium Energy Botswana (Pty) Ltd. and Copper Falcon Botswana (Pty) Ltd., which collectively hold three uranium Prospecting Licenses (the “Lekobolo Project” or the “Licenses”) in the Republic of Botswana.

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