Loncor Gold Announces Calling of Shareholders' Meeting

On November 13, 2025, Loncor Gold announced it has called a special meeting of shareholders to be held on December 11, 2025. The purpose of the meeting is for shareholders to vote on the previously announced plan of arrangement under which Chengtun Mining Group Co., Ltd. will acquire all outstanding common shares of Loncor for C$1.38 in cash per share. The board of directors unanimously recommends that shareholders vote in favor of the arrangement.

The announcement of a shareholder meeting is a procedural and fully anticipated step following the definitive acquisition agreement announced on October 14, 2025. Therefore, this news is routine. It is positive because it confirms that the transaction is progressing as planned and provides shareholders with a clear timeline for the vote, which is a key condition for closing.

Reviewing the historical news provides the full context: - Early 2025: Loncor was consistently releasing positive, high-grade drill results from its deep drilling program at the Adumbi deposit, confirming the potential for a significant underground resource below the existing 3.66 million ounce open-pit resource. - May 2025: The company successfully closed an upsized C$9.4 million private placement at C$0.55 per unit. This was a necessary financing to fund the ambitious drill program but came at the cost of significant dilution. - July 14, 2025: The company disclosed it had received an unsolicited, non-binding takeover offer and had formed a special committee. This was the pivotal event that signaled a potential M&A transaction was in play, causing the stock to rally. - October 14, 2025: Loncor announced a definitive agreement to be acquired by Chengtun Mining for C$1.38 in cash per share. This was the game-changing news, representing a significant premium and a liquidity event for shareholders. The agreement included strong support, with key shareholders representing approximately 38% of outstanding shares (including management and strategic investor Resolute Mining) signing voting support agreements. - Post-Announcement: The stock price immediately moved to trade in a tight range just below the C$1.38 offer price, reflecting the market's high confidence that the deal will close. Subsequent positive drill results on October 23 had minimal impact on the share price, as the company's value is now pegged to the acquisition price, not its exploration upside.

The November 13th news simply formalizes the next step in this acquisition process. It has no material impact on the valuation, which is now defined by the C$1.38 offer. Its impact is to reinforce the timeline and procedural nature of the path to closing the transaction.

Loncor Gold Inc. is a Canadian gold exploration company. Its primary focus is on the Ngayu greenstone belt in the northeast of the Democratic Republic of the Congo (DRC). The company's flagship asset is the Imbo Project, which contains the Adumbi deposit. Adumbi hosts a significant gold resource of 1.88 million ounces in the Indicated category and 1.78 million ounces in the Inferred category, delineated within an open-pit shell. The company has been actively conducting a deep-drilling program to explore the considerable underground potential beneath the existing pit shell, with the stated goal of growing the resource to over five million ounces.