Newfoundland Discovery closes acquisition of Orenoxe, securing earn-in rights to Angola’s Ganda gold project
Bitget2026/09/22 12:05- Newfoundland Discovery closed its acquisition of Orenoxe Holdings, securing staged earn-in rights to up to 70% of GOLDANGO, with an option to 90%.
- GOLDANGO holds the 786 sq km Ganda gold concession in Angola’s Benguela Province, positioned as a district-scale exploration entry.
- Consideration includes USD 220,000 cash, USD 140,000 equivalent in kwanza for licence fees, deferred cash of USD 450,000 within 12 months.
- Equity component totals 19,000,000 Newfoundland Discovery common shares, with 9,900,000 issued at close at CAD 0.12.
- Remaining 9,100,000 shares vest upon USD 1 million of qualifying exploration spend within 24 months, subject to staged lock-ups.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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