Disposition of Shares

The most recent news (February 11, 2026) reports that Loncor Gold Inc. (LNG) has disposed of its entire holding in KGL Resources Ltd. This involved the sale of 8,857,142 common shares (a 60.23% interest) at a price of C$0.07 per share for total proceeds of C$620,000. This divestiture was conducted via a private agreement as a required step under the Plan of Arrangement for the acquisition of Loncor by Chengtun Gold Ontario Inc. The cash consideration for the KGL shares was satisfied through a reduction in the buyer's compensation entitlement upon the closing of the Arrangement.

The impact of this specific news item is neutral to slightly positive as it represents the fulfillment of a closing condition for the company's total acquisition. - In the context of the C$261 million total valuation for Loncor, the C$620,000 divestment of KGL is a minor administrative cleanup. - It confirms that the merger process with Chengtun Mining Group is proceeding through its final logistical phases. - For shareholders, this news has no impact on the acquisition price of C$1.38 per share, as the KGL sale proceeds were already factored into the transaction structure.

Loncor Gold is a Canadian gold exploration company focused on the Ngayu Greenstone Gold Belt in the Democratic Republic of the Congo (DRC). - Flagship Project: The Adumbi deposit (Imbo Project). - Resource: Adumbi holds an Indicated Mineral Resource of 1.88 million ounces (28.19 million tonnes at 2.08 g/t Au) and an Inferred Resource of 1.78 million ounces (20.83 million tonnes at 2.65 g/t Au). - Development: The company successfully demonstrated that the Banded Ironstone Formation (BIF) hosts thick, high-grade mineralization that remains open at depth, reaching over 800 meters below surface. This potential for a large-scale underground operation was the primary catalyst for the Chengtun acquisition.