Sale of Makapela, a non-core asset, provides significant non-dilutive capital for Loncor to move forward its flagship Adumbi gold deposit
Loncor Gold Inc. is pleased to announce that it has entered into an agreement for the sale of Loncor's Makapela property for Cdn$13,500,000 cash. The agreement calls for the sale price to be paid in a series of progress payments beginning with a deposit of Cdn$2,000,000. The balance of the progress payments, totalling Cdn$11,500,000, will be paid upon completion of the transfer of title to Makapela, which is expected to occur before the end of February 2024. Loncor's Chief Executive Officer, John Barker, commented: "Loncor has conducted a number of discussions with potential strategic partners over the last 18 months, many of which involved...