On October 14, 2025, Loncor Gold Inc. entered into an arrangement agreement for Chengtun Mining Group, through wholly owned subsidiary Chengtun Gold Ontario Inc., to acquire all outstanding Loncor shares for C$1.38 in cash per share, valuing Loncor at about C$261 million. The price implies premiums of roughly 33% to the 30-day VWAP and 16% to the October 10, 2025 TSX close. Holders of approximately 38% of shares, including Resolute Mining Ltd. (18%) and Executive Chairman Arnold Kondrat (17%), signed voting support agreements. The deal will proceed by court-approved plan of arrangement and includes reciprocal C$10 million termination fees, non-solicitation with a fiduciary out, and cash settlement for in-the-money options and warrants. The purchaser will advance Loncor US$3 million (about C$4.21 million) within 60 days of signing to fund Adumbi exploration and for general corporate purposes. Completion remains subject to shareholder approvals, TSX acceptance, Ontario Superior Court and regulatory approvals, and other customary conditions, with closing targeted no later than Q1 2026. On completion, Loncor shares are expected to be delisted from the TSX, and the company will apply to cease to be a reporting issuer in Canada and a U.S. SEC registrant.

Stifel Canada and EB Capital Advisory advise Loncor; Dickinson Wright LLP is legal counsel to Loncor. Baker McKenzie FenXun and Dentons Canada LLP act for Chengtun Mining.