On September 30, 2024, Zodiac Gold Inc. (TSXV: ZAU) announced the execution of an exclusivity agreement with Mable and Fable Limited, a private equity group with a focus on West African investments encompassing natural resources, banking, real estate, agriculture, and infrastructure sectors. Under the terms of the agreement, Zodiac Gold will engage exclusively with Mable and Fable Limited until December 31, 2024, regarding a potential investment or strategic transaction. In consideration, the Investor will provide a US$2 million deposit to Zodiac Gold, with US$1 million funded immediately and the remaining US$1 million to be funded within 30 days.
The Deposit received will be utilized by Zodiac Gold for exploration activities at its Todi Project and newly acquired exploration licenses, as well as for general working capital purposes. Should the parties reach a definitive agreement by December 31, 2024, the Deposit will be credited against amounts payable by the Investor under the agreement. In the event of no agreement being reached by the specified date, the Deposit will be converted into common shares of Zodiac Gold at a predetermined price, subject to TSXV approval.
David Kol, President, and CEO of Zodiac Gold, expressed optimism about the exclusivity agreement, stating it marks a significant progression for the company. The collaboration with Mable and Fable aligns with the shared vision of unlocking potential in the Todi Project and broader land assets. This investment opportunity reflects the value inherent in Zodiac Gold’s assets and the exploration prospects ahead. The funding received will accelerate work on key targets, focusing on delivering meaningful discoveries and realizing the district-scale opportunity in Liberia.
Mable and Fable Limited, known for their real estate development projects in Africa, bring extensive experience in supporting growth-stage resource ventures, aligning with Zodiac Gold’s strategy to unlock substantial value in the region. Zodiac Gold Inc. is a West-African exploration company concentrating on its flagship Todi Project in Liberia, which boasts a vast land package covering gold and iron occurrences with promising resource potential.
For further information, interested parties can visit the Zodiac Gold website. This press release contains forward-looking statements, and readers are advised not to place undue reliance on such statements as they may differ from actual results. Source: Zodiac Gold Inc.
