Blue Gold Limited Signs A Definitive Purchase Agreement With FGR Bogoso Prestea Limited To Acquire Up To A 90% Interest In The Mampon Gold & Copper Mining Lease, Located In Ghana's Ashanti Gold Belt

Author: Benzinga Newsdesk | September 17, 2025 04:58pm

New York, NY, Sept. 17, 2025 (GLOBE NEWSWIRE) -- Blue Gold Limited (NASDAQ:BGL) ("Blue Gold" or the "Company"), a next-generation gold development and technology company, is pleased to announce that it has signed a definitive Purchase Agreement (PA) with FGR Bogoso Prestea Limited ("FGRBPL") to acquire up to a 90% interest in the Mampon Gold & Copper Mining Lease, located in Ghana's Ashanti Gold Belt.

This transaction follows Blue Gold's announcement in July 2025, when the Company disclosed its entry into a non-binding term sheet to acquire Mampon. The execution of the PA is in line with Blue Gold's strategy of seeking acquisition opportunities aimed at expanding Blue Gold's portfolio of high-grade resources and high-potential exploration locations across key jurisdictions.

Transaction Overview

Under the terms of the PA:

• Blue Gold will acquire up to 90% of a Ghanaian company to which the Mampon mining lease will be transferred ("Licensing Company") in two tranches:
  • First Tranche:   Subject to closing conditions, including the approval of the licensing assignment by all relevant parties, including the government of Ghana, being met, the Company will pay $15 million to FGRBPL for a 50% stake in the Licensing Company. The consideration will be paid by issuing 750,000 ordinary shares, par value $0.0001, of the Company (the "Ordinary Shares"), to FGRBPL. Following the expiry of ninety (90) consecutive trading days immediately after the First Tranche Completion, the number of First Tranche Consideration Shares shall be adjusted as follows:
    • if the VWAP Price over that period is less than $20.00 but not less than $10.00, Blue Gold will issue additional Ordinary Shares to the FGRBPL as is necessary to ensure that the aggregate value of the First Tranche Consideration Shares (calculated by reference to the VWAP Price) equals $15 million;
    • if the VWAP Price is equal to or greater than $20.00, no additional Ordinary Shares shall be issued and the First Tranche Consideration Shares shall be the 750,000 Ordinary Shares; and
    • if the VWAP Price is less than $10.00, the maximum number of First Tranche Consideration Shares to be issued shall be 1,500,000 Ordinary Shares.
  • Second Tranche: Structured as an option exercisable by the Company between 12 and 18 months following the date of the Purchase Agreement, whereby independently verified resource upgrades in accordance with the standards of Regulation S-K 1300 of the Securities Act of 1933, as amended, above the base resource will be paid for by the Company by issuing shares in accordance with the following value:
    • Up to $55 per ounce of gold (capped at 6 million ounces);
    • Up to $50 per ton of copper (capped at 4 million tons); and

if the option is exercised, FGR BPL will transfer the remaining 50% stake of Licensing Company to the Company.

Strategic Impact

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