Canada-based Wildcat Exploration has terminated the deal with Strike Diamond and Kalt Industries for proposed property acquisitions in Canada.
The company announced the proposed acquisitions in May this year, which were approved by shareholders.
The deal is subject to regulatory approval, which the company failed to receive leading to termination of the deal.
In May, the firm signed non-binding letters of intent (LOIs) with three property owners to acquire diamond exploration properties in the Pikoo and Fort a la Corne diamond exploration areas of Saskatchewan.
The proposed acquisitions comprised of 85% stake purchase in Pikoo area property totaling 41,533ha, comprised of an 80% interest from Strike Diamond and a 5% interest from Kalt Industries.
It also included 100% stake purchase in two Pikoo area properties, totaling 11,843ha, from Kalt industries.
Pikoo is a new diamondiferous kimberlite district situated in central eastern Saskatchewan, associated with the Archean-aged Sask Craton.
The deal also included a 100% stake purchase in properties totaling 2,294ha in the Pikoo, SK area from Copper Reef Mining.