Loncor Gold Inc. (LONCF) announced that it has entered into an arrangement agreement with Chengtun Mining Group Co., Ltd., through its wholly‑owned subsidiary Chengtun Gold Ontario Inc., to acquire all outstanding common shares of Loncor. The agreement was signed on October 14, 2025, and will be executed via a court‑approved plan of arrangement under the Ontario Business Corporations Act.
Under the terms of the deal, Loncor shareholders will receive C$1.38 per share in cash, representing an equity value of approximately C$261 million on a fully diluted basis. The consideration represents a premium of about 33 % to the 30‑day volume‑weighted average price and 16 % to the closing price on October 10, 2025.
The transaction requires approval from Loncor shareholders, acceptance by the Toronto Stock Exchange, and court approval, after which the shares will be delisted and Loncor will cease to be a reporting issuer under Canadian securities laws and the U.S. Securities and Exchange Commission. The parties anticipate completion by the end of the first quarter of 2026.
Chengtun Mining will provide refundable advances totaling US$3 million within 60 days of the agreement to support Loncor’s ongoing exploration at the Adumbi deposit and general corporate purposes. A special committee of independent directors has unanimously recommended the transaction, and a fairness opinion from Stifel Canada confirms the offer is fair to shareholders.
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