Montage Gold Closes Second Tranche of Investment in African Gold

Core Viewpoint - Montage Gold Corp. has successfully closed the second tranche of its strategic investment in African Gold Limited, enhancing its position in the African gold market through a share exchange transaction [1][2]. Group 1: Strategic Investment Details - The strategic partnership involves a share exchange transaction where Montage received 92,377,787 fully paid ordinary shares of African Gold at a deemed issue price of A$0.07 per share, while African Gold received 2,026,388 common shares of Montage at a deemed issue price of C$2.87 per share [2]. - The completion of Tranche 2 resulted in the issuance of 46,358,146 African Gold Ordinary Shares to Montage and 1,016,907 Montage Common Shares to African Gold, with a 4-month hold period on the shares issued to African Gold expiring on October 13, 2025 [2]. Group 2: Technical Agreements - Alongside the investment, Montage has entered into a technical services agreement with African Gold for the management of operations at the Didievi Project [3]. - Montage has also secured a project rights agreement granting it a right of first refusal regarding African Gold's rights and interests in the Didievi Project and adjacent Angoda Permit, including the right to acquire minority interests in the Didievi Project upon any future exercise of African Gold's existing right of first refusal [3]. Group 3: Company Overview - Montage Gold Corp. is focused on becoming a premier multi-asset African gold producer, with its flagship Koné project in Côte d'Ivoire expected to have a mine life of 16 years and an annual production of over 300,000 ounces of gold during the first 8 years, with production anticipated to start in Q2-2027 [4].