Loncor Gold Announces Calling of Shareholders' Meeting

Core Viewpoint - Loncor Gold Inc. is proposing an arrangement with Chengtun Mining Group Co., Ltd. to acquire all issued and outstanding common shares for Cdn$1.38 per share in cash, representing a significant premium over recent trading prices [1][6][11]. Company Overview - Loncor Gold Inc. is a Canadian gold exploration company focused on the Ngayu Greenstone Gold Belt in the Democratic Republic of the Congo, with a resource base that includes an indicated mineral resource of 1.88 million ounces of gold and an inferred mineral resource of 2.09 million ounces of gold [12]. Transaction Details - The arrangement requires shareholder approval at a special meeting scheduled for December 11, 2025, with a minimum of 66 2/3% of votes needed for approval [3][11]. - The proposed cash consideration of Cdn$1.38 per share represents a premium of approximately 48% to the 60-day volume weighted average trading price, 33% to the 30-day VWAP, and 16% to the closing price as of October 10, 2025 [6][7]. - Approximately 37% of currently issued shares have signed voting support agreements in favor of the arrangement [5]. Approval Process - The arrangement must also receive approval from the Ontario Superior Court of Justice, which will assess the fairness and reasonableness of the transaction [4][11]. - Following the completion of the arrangement, Loncor's shares will be delisted from the Toronto Stock Exchange and other exchanges, and the company will cease to be a reporting issuer in Canada and the United States [11]. Strategic Rationale - The all-cash offer provides certainty of value and immediate liquidity to shareholders, while eliminating future dilution and execution risks [15].