Lake Victoria Gold Plans Strategic Partnership With HOB to Advance Imwelo and Tembo
Bitget2026/10/20 15:12- Lake Victoria Gold entered a nonbinding term sheet for a strategic partnership with HOB Energy involving a $27.22 million investment.
- HOB would buy 90,733,960 common shares at $0.30 each; a concurrent shareholder offering would raise up to $5 million.
- Proceeds would advance Imwelo toward gold production and fund expanded exploration and resource drilling at Tembo.
- HOB would own approximately 29.17% upon full completion, with rights to appoint three directors and a chief operating officer.
- Closing is expected by November 30, 2026, subject to shareholder and regulatory approvals, mutual due diligence and other conditions.
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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