Ann: Heads of Agreement signed for acquisition of Blom Diamonds, page-2

Heads of Agreement signed for acquisition of Blom Diamonds
HIGHLIGHTS

Binding
HOA
signed for acquisition of 74% interest in Blom Diamonds

Creation of a unique vertically integrated investment vehicle to combine full
value chain of diamond
exploration/
production, trading, beneficiation, cutting
and polishing

Transaction structure to significantly align both parties’ interests
Tychean Resou
rces Limited (ASX:TYK) (Tychean or the Company) announces today that it
has signed a binding Heads of Agreement (HOA) to acquire a 74% interest in Blom Diamond
Cutting Works Pty Ltd and Ernest Blom Diamonds CC (Blom Diamonds), an established
South Africa
-
b
ased diamond company. The acquisition is the culmination of significant
efforts in securing a cornerstone project and will transform Tychean into a vertically
integrated diamond
-
focused company.