Santa Fe Minerals Limited (ASX:SFM) entered into a binding share purchase agreement to acquire Glomin Services Limited from WIA Gold Limited (ASX:WIA) for AUD 5.2 million on November 26, 2025. The consideration payable by SFM to WIA is comprised of the following: 20 million shares in SFM. The Consideration Shares will be subject to an escrow period for 12 months following the completion date, subject to customary exceptions and 8 million performance rights convertible into shares in SFM.

The transaction is subject to completion of placement, approval by regulatory board / committee, approval of offer by acquirer shareholders and third party approval needed. The expected completion of the transaction is February 23, 2026. On January 19, 2026, it was announced that all the conditions precedent under the sale agreement, except for completion of the capital raising, have been satisfied. Santa Fe expects to be in receipt of funds for the capital raising by the end of this week, with completion of the transaction expected to occur by the end of January 2026.