Katoro Gold plc (AIM:KAT) entered into heads of terms agreement to acquire 31 Explore Ltd on February 10, 2025. Katoro will acquire 31 Explore Ltd in exchange for a total of 750 million Acquisition Warrants to be distributed to the shareholders of 31 Explore Ltd. Katoro Gold will issue Warrants comprise 375 million warrants at price of 0.10p and 375 million warrants with price of 0.15p. The vendors have agreed to a lock in respect of the Acquisition Warrants for the first 12 months from issue. The transaction will be financed through equity investment of £0.32 million. The transaction is subject to consummation of private placement.

James Biddle, Roland Cornish of Beaumont Cornish Limited acted as financial advisors to Katoro Gold plc.

Katoro Gold plc (AIM:KAT) completed the acquisition of 31 Explore Ltd on March 18, 2025.