Finalisation Contingent Consideration - Acquisition Intrepid Geophysics

SensOre (ASX: S3N or the Company) aims to become the top performing global minerals targeting company through deployment of big data, artificial intelligence/machine learning technologies and geoscience expertise.

Finalisation of Contingent Consideration

As previously announced to the ASX on 5 July 2022, the finalisation of the Intrepid Geophysics acquisition provided for contingent consideration consisting of a further issue of fully paid ordinary shares (at the twelve month anniversary of acquisition date) in the event that SensOre’s volume weighted average price (VWAP) for the twelve month period following the acquisition date (measured on the twelve month anniversary of the acquisition date) was below $0.70 (being the share price used as the basis for calculating the number of fully paid ordinary shares to be issued as part of the acquisition agreement).

The crystallisation of this obligation results in an additional 2,495,506 shares to be issued to the vendor.

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