Montage Gold Exercises Participation Rights in Sanu Gold
Montage Gold Corp. (TSXV: MAU, OTCQX: MAUTF) has exercised its participation rights to maintain its 19.5% equity stake in Sanu Gold following Sanu's non-brokered private placement. Montage acquired 7,664,294 shares of Sanu at C$0.28 per share, paid through the issuance of 848,222 Montage shares at C$2.53 per share, representing a total consideration of approximately C$2.1 million.
The transaction maintains Montage's right to top up its ownership to 19.9% in future financings. AngloGold Ashanti and the Lundin Family have also participated to maintain their respective 10% ownership positions. The proceeds will fund Sanu's exploration activities in Guinea, including ground geophysics and drilling programs at the Daina and Diguifara permits, as well as potential new permit acquisitions.
Montage Gold Corp. (TSXV: MAU, OTCQX: MAUTF) ha esercitato i suoi diritti di partecipazione per mantenere la sua partecipazione azionaria del 19,5% in Sanu Gold a seguito del collocamento privato non mediato di Sanu. Montage ha acquisito 7.664.294 azioni di Sanu a C$0,28 per azione, pagate attraverso l'emissione di 848.222 azioni di Montage a C$2,53 per azione, per un corrispettivo totale di circa C$2,1 milioni.
La transazione mantiene il diritto di Montage di aumentare la sua proprietà al 19,9% in future finanziamenti. AngloGold Ashanti e la famiglia Lundin hanno inoltre partecipato per mantenere le rispettive posizioni di proprietà del 10%. I proventi finanzieranno le attività di esplorazione di Sanu in Guinea, comprese le geofisiche di superficie e i programmi di perforazione nei permessi di Daina e Diguifara, oltre a potenziali nuove acquisizioni di permessi.
Montage Gold Corp. (TSXV: MAU, OTCQX: MAUTF) ha ejercido sus derechos de participación para mantener su participación accionaria del 19,5% en Sanu Gold tras la colocación privada no mediada de Sanu. Montage adquirió 7.664.294 acciones de Sanu a C$0,28 por acción, pagadas a través de la emisión de 848.222 acciones de Montage a C$2,53 por acción, representando una contraprestación total de aproximadamente C$2,1 millones.
La transacción mantiene el derecho de Montage a aumentar su propiedad al 19,9% en futuras financiaciones. AngloGold Ashanti y la familia Lundin también han participado para mantener sus respectivas posiciones de propiedad del 10%. Los ingresos financiarán las actividades de exploración de Sanu en Guinea, incluidas las geofísicas de superficie y los programas de perforación en los permisos de Daina y Diguifara, así como posibles nuevas adquisiciones de permisos.
Montage Gold Corp. (TSXV: MAU, OTCQX: MAUTF)는 Sanu의 비중매각 후 Sanu Gold에서 19.5%의 지분을 유지하기 위해 참여권을 행사했습니다. Montage는 Sanu의 7,664,294주를 주당 C$0.28에 인수하였고, 이는 848,222 Montage 주식을 주당 C$2.53로 발행하여 지급한 것으로, 총 금액은 약 C$2.1 백만에 해당합니다.
이번 거래는 Montage가 향후 자금 조달 시 소유권을 19.9%까지 늘릴 수 있는 권리를 유지합니다. AngloGold Ashanti와 Lundin 가족도 각각 10%의 소유권을 유지하기 위해 참여했습니다. 수익금은 기니에서 Sanu의 탐사 활동을 지원하는 데 사용되며, 여기에는 Daina 및 Diguifara 허가에서의 지표 지구물리학 및 시추 프로그램과 잠재적인 새로운 허가 인수가 포함됩니다.
Montage Gold Corp. (TSXV: MAU, OTCQX: MAUTF) a exercé ses droits de participation pour maintenir son participation de 19,5% dans Sanu Gold suite à la placement privé non intermédiaire de Sanu. Montage a acquis 7.664.294 actions de Sanu à C$0,28 par action, payé par l'émission de 848.222 actions de Montage à C$2,53 par action, représentant une contrepartie totale d'environ C$2,1 millions.
La transaction maintient le droit de Montage d'augmenter sa propriété à 19,9% lors de futurs financements. AngloGold Ashanti et la famille Lundin ont également participé pour maintenir leurs positions respectives de 10%. Les produits financeront les activités d'exploration de Sanu en Guinée, y compris la géophysique de surface et les programmes de forage dans les permis de Daina et Diguifara, ainsi que des acquisitions potentielles de nouveaux permis.
Montage Gold Corp. (TSXV: MAU, OTCQX: MAUTF) hat seine Beteiligungsrechte ausgeübt, um seinen 19,5%igen Anteil an Sanu Gold nach der nicht vermittelten Privatplatzierung von Sanu zu halten. Montage erwarb 7.664.294 Aktien von Sanu zu C$0,28 pro Aktie, bezahlt durch die Ausgabe von 848.222 Montage-Aktien zu C$2,53 pro Aktie, was einem Gesamtbetrag von etwa C$2,1 Millionen entspricht.
Die Transaktion sichert Montages Recht, seinen Anteil in zukünftigen Finanzierungen auf 19,9% aufzustocken. Auch AngloGold Ashanti und die Familie Lundin haben teilgenommen, um ihre jeweiligen 10%igen Eigentumspositionen zu halten. Die Erlöse werden die Explorationsaktivitäten von Sanu in Guinea finanzieren, einschließlich geophysikalischer Untersuchungen und Bohrprogramme in den Genehmigungen Daina und Diguifara sowie potenziellen neuen Genehmigungserwerbungen.
- Maintains strategic 19.5% ownership in Sanu Gold with option to increase to 19.9%
- Strong institutional backing with AngloGold Ashanti and Lundin Family maintaining their positions
- Investment provides exposure to additional exploration potential in Guinea
- Share dilution through issuance of 848,222 new Montage shares
- C$2.1 million capital allocation in early-stage exploration company
VANCOUVER, Canada, April 14, 2025 (GLOBE NEWSWIRE) -- April 14, 2025 — Montage Gold Corp. (“Montage” or the “Company”) (TSXV: MAU, OTCQX: MAUTF) is pleased to announce that it has exercised its participation right to maintain its equity interest in Sanu Gold Corporation (“Sanu”) (CSE:SANU; OTCQB:SNGCF) following Sanu’s non-brokered private placement as announced on March 25, 2025 (the “Placement”).
As a result, Montage has been issued 7,664,294 common shares of Sanu at a price of C
AngloGold Ashanti plc and the Lundin Family and their associates have also participated in the Placement to largely maintain each of their respective pro rata equity interests in the Company, of approximately
The net proceeds from the Placement will be allocated by Sanu to further exploration efforts, including ground geophysics and the expansion of drilling programs on Sanu’s Daina and Diguifara Gold Exploration Permits in Guinea, West Africa, as well as the Bantabaye Exploration Permit. Additionally, funds may support the acquisition of potential new exploration permits and will provide general working capital for Sanu.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT MONTAGE GOLD
Montage Gold Corp. (TSXV: MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship Koné project, located in Côte d’Ivoire, at the forefront. Based on the Updated Feasibility Study published in 2024 (the “UFS”), the Koné project has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first 8 years and is expected to enter production in Q2-2027.
QUALIFIED PERSONS STATEMENT
The scientific and technical contents of this press release related to Montage have been verified and approved by Silvia Bottero, BSc, MSc, a Qualified Person pursuant to NI 43-101. Mrs. Bottero, EVP Exploration of Montage, is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (SACNASP), a member of the Geological Society of South Africa and a Member of AusIMM.
CONTACT INFORMATION
| For Investor Relations Inquiries: Jake Cain Strategy & Investor Relations Manager jcain@montagegold.com +44-7788-687-567 | For Media Inquiries: John Vincic Oakstrom Advisors john@oakstrom.com +1-647-402-6375 | For Regulatory Inquiries: Kathy Love Corporate Secretary klove@montagegold.com +1-604-512-2959 |
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking information and forward-looking statements within the meaning of Canadian securities legislation (collectively, “Forward-looking Statements”). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as “will”, “intends”, “proposed” and “expects” or similar expressions are intended to identify Forward-looking Statements. Forward-looking Statements in this press release include statements related to the activities and results of an exploration activities, the Company’s objectives of achieving first gold pour in the second quarter of 2027; the Company’s mineral reserve and resource estimates; the timing and amount of future production from the Koné Gold Project; anticipated mining and processing methods of the Koné Gold Project; anticipated mine life of the Koné Gold Project.
Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There is no assurance that any economic satellite deposits will be discovered, and if discovered ever developed or mined. There can be no assurance that any Forward-looking Statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility studies such as the Mineral Reserve Estimate and the UFS, and in delineating new mineral reserve and resource estimates, including but not limited to, assumptions underlying the production estimates not being realized, incorrect cost assumptions, unexpected variations in quantity of mineralized material, grade or recovery rates being lower than expected, unexpected adverse changes to geotechnical or hydrogeological considerations, or expectations in that regard not being met, unexpected failures of plant, equipment or processes (including construction equipment), delays in or increased costs for the delivery of construction equipment and services, unexpected changes to availability of power or the power rates, failure to maintain permits and licenses, higher than expected interest or tax rates, adverse changes in project parameters, unanticipated delays and costs of consulting and accommodating rights of local communities, environmental risks inherent in the Côte d’Ivoire, title risks, including failure to renew concessions, unanticipated commodity price and exchange rate fluctuations, delays in or failure to receive access agreements or amended permits and other risk factors set forth in the Company’s Annual Information form available at www.sedarplus.ca, under the heading “Risk Factors”. The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Montage to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
FAQ
What percentage ownership does Montage Gold (MAUTF) now hold in Sanu Gold?
How many shares did Montage Gold (MAUTF) acquire in Sanu's private placement?
What is the total value of Montage Gold's (MAUTF) investment in Sanu's placement?
How will Sanu use the proceeds from the private placement?
