Southern Alliance Mining Ltd. said on Sep, 12 2025 that its wholly owned unit, SAM Advance Minerals Holding Sdn. Bhd., has completed the acquisition of 40.00% of the issued and paid-up capital of Malaysia-based MCRE Resources Sdn. Bhd.

The consideration for the stake was partly satisfied through the issuance of 147,982,380 new Southern Alliance Mining shares to the three vendors, valued at about 66.2 million Singapore dollars. The new shares account for 23.2% of the company’s enlarged share capital and raise its total outstanding shares to 636,741,380. The shares are expected to start trading on the Catalist board around Sep, 15 2025 and will rank pari passu with existing stock.

A remaining cash consideration of approximately 7.07 million Singapore dollars will be paid to the vendors in four equal instalments on the first through fourth anniversaries of completion. Following the transaction, MCRE Resources becomes an associated company of Southern Alliance Mining.