NewGen Announces Proposed Reverse Merger with SAXA, Inc. in a $5 Billion Mining Asset Acquisition Deal, Involving Gold, Silver, and Rare Earth

Core Viewpoint - NewGenIVF Group Limited is pursuing a proposed reverse merger with SAXA, Inc. to acquire mining assets, which is expected to significantly enhance shareholder equity and transform NewGen into a multi-billion-dollar conglomerate [1][2][3] Proposed Transaction - NewGen plans to issue 500 million shares at US$10 each, totaling US$5 billion, to SAXA shareholders in exchange for specific mining assets valued at US$11 billion [2][4] - The assets include a gold and silver mine with 1.9 million ounces of gold and 4.4 million ounces of silver in measured reserves, and a planned US$1.5 billion dual processing facility for precious metals and rare earths [2][4] - Following the transaction, NewGen will issue an additional 50 million shares at US$5 each, raising US$250 million for further initiatives [4] Ownership Structure - Post-transaction, SAXA shareholders are expected to hold an 85.89% ownership stake in NewGen, with SAXA entitled to nominate a majority of the board of directors [5] Strategic Importance - The merger is positioned to capitalize on the increasing demand for critical minerals essential for U.S. national security and industrial applications, particularly in technologies like semiconductors and electric vehicles [2][3] - The combined entity aims to leverage SAXA's mining expertise and assets to enhance NewGen's diversified portfolio across various sectors [3][10] Company Background - NewGenIVF Group operates in real estate development, digital asset management, and reproductive health solutions, with a focus on innovative technology to drive growth [8] - SAXA, Inc. is an international holdings company with interests in diverse sectors, including mining, aiming to create a global footprint [10]