Akwaaba Mining chairman Green owns 11.64M shares

Executive Summary

• Allan Green, Chairman and CEO of Akwaaba Mining Ltd., acquired an additional 3,340,593 common shares, increasing his beneficial ownership from approximately 56.79% to 79.64% on a non-diluted basis.
• The transaction was executed via a private agreement on March 6, 2026, at a price of $0.13 per share, totaling $434,277.30 in consideration.
• The acquisition triggered a mandatory Early Warning Report filing under National Instrument 62-103, as Mr. Green remains a control person while Grizal Enterprises Ltd. ceased to be a control person following the share transfer.

Key Details

• Pre-Acquisition Ownership: 8,304,517 shares and 350,000 share purchase warrants, representing ~56.79% (non-diluted) and ~57.80% (fully diluted) of outstanding shares.
• Shares Acquired: 3,340,593 common shares total (2,340,593 from Grizal Enterprises Ltd. and 1,000,000 from Marsevia Holdings Ltd.).
• Purchase Price & Consideration: $0.13 per share for a total consideration of $434,277.30.
• Post-Acquisition Ownership: 11,645,110 shares, representing ~79.64% (non-diluted) and ~82.03% (fully diluted) of outstanding shares.
• Transaction Structure & Exemption: Completed via private agreement relying on the exemption in Section 4.2 of NI 62-104 (Take-Over Bids and Issuer Bids), as the purchase was from ≤5 persons, not offered generally, and consideration was ≤115% of security value.
• Holding Arrangement: Candel & Partners SAS, a French company beneficially owned by Mr. Green, will hold 728,183 of the acquired shares on his behalf.
• Purpose & Future Intent: Acquisition made for investment purposes in response to an unsolicited opportunity; Mr. Green has no current plans regarding the securities but may adjust his position subject to market conditions and applicable law.
• Regulatory Filing: Early Warning Report filed pursuant to NI 62-103; available under Akwaaba Mining's profile on SEDAR+.
• Control Person Status Change: Grizal Enterprises Ltd. ceased to be a control person of Akwaaba Mining following the completion of the share acquisition.