Forge Resources Expands Stake in Aion Mining to 80%

Forge Resources ( (TSE:FRG) ) has provided an update.

Forge Resources Corp. has entered into an anti-dilution agreement with Aion Mining Corp. and its shareholders to increase its stake in Aion to 80%. This strategic move, which involves a transaction valued at over $2.2 million, aims to solidify Forge’s position in the coal industry, particularly with the La Estrella coal project in Colombia. The agreement ensures Forge’s ownership in Aion is protected from dilution and includes an option to acquire additional shares. The transaction is subject to necessary approvals, and its completion could enhance Forge’s operational capacity and influence in the market.

More about Forge Resources

Forge Resources Corp. is a Canadian-listed junior exploration company with a 60% interest in Aion Mining Corp., which is developing the fully permitted La Estrella coal project in Santander, Colombia. The company also holds an option on the Alotta project, a prospective porphyry copper-gold-molybdenum project in the Yukon Territory of Canada.

YTD Price Performance: 65.13%

Average Trading Volume: 19,135

Technical Sentiment Signal: Sell

Current Market Cap: $54.61M

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