The TSX Venture Exchange has accepted for filing documentation with respect to the arm's-length acquisition of an interest in the gold stream on the Tongon gold mine in Ivory Coast, owned and operated by the Atlantic Group, pursuant to a stream purchase agreement dated Sept. 17, 2026, among the company, Empress Royalty Holding Corp. (Empress Holdings) and Appian Tongon Streamco Ltd. (the seller).

Pursuant to the agreement, the company's wholly owned subsidiary, Empress Holdings, will acquire the seller's interest in the stream, with the company acting as guarantor. The stream entitles the holder to receive 3.58 per cent of payable gold production from the mine until 400,000 cumulative ounces have been delivered, then 2.93 per cent of payable gold production from the mine until 600,000 cumulative ounces have been delivered and then 0.81 per cent of payable gold production for the remainder of the stream's term. At closing, the seller delivered a duly executed assignment agreement transferring its entire interest in the stream to Empress Holdings.

The consideration for the stream is an upfront cash payment of $62-million (U.S.), plus postclosing payments comprising: (1) contingent payments of $40 (U.S.) per ounce of gold produced, once the mine has made deliveries of 400,000 ounces since the closing date, capped at $19-million (U.S.); and (2) participation payments of 35 per cent of the net stream margin per ounce on annual production exceeding 51,000 ounces until the end of 2040 subject to certain buyback rights specified in the agreement. If either the contingent payments or participation payments exceed the value of gold Empress Holdings receives for the corresponding period, the excess will be deferred to the next payment period.

Concurrent with this agreement, the company entered into a loan agreement for a $75-million (U.S.) senior secured credit facility with an affiliate of the seller. The acquisition will be financed by an initial draw of $55-million (U.S.) under the credit facility, with the remaining balance financed from the company's existing cash resources.

No finder's fee was paid. Advisory fees of $2.69-million (U.S.) were paid on closing to certain advisors in connection with the transaction, comprising cash and 2,158,458 fee shares at a price of 97 cents per share.

For further details, please refer to the company's news releases dated Sept. 17, 2026, and Oct. 19, 2026.