Subject: REK june 4
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Rektron Group Incorporated Announces Proposed Strategic Acquisition of
Majority Stake in AT Ghana, Anchoring a Presence in Ghana's
Telecommunications Sector
VANCOUVER, British Columbia, June 4, 2025 Rektron Group Incorporated
("Rektron" or the "Company"), (CSE: REK.U) (FRA: F75) a global leader in energy
and infrastructure, in a strategic alliance with Afritel Ghana Limited ("Afritel"), has
announced plans to acquire a sixty percent (60%) majority equity stake in AT Ghana
Limited (formerly Airtel Tigo), one of Ghana's premier telecommunications providers
(the "Acquisition"). Afritel, a respected telecommunications firm in Ghana. is founded
by Nana Richmond Aggrey ("Mr. Aggrey") Mr. Aggrey is a pioneering figure in Ghana's
telecommunication industry, co-founding Scancom Ghana Limited (Areeba), the first
GSM (Global System for Mobile Communication) provider in Ghana, later acquired by
MTN Ghana. The Acquisition signifies Rektron's diversification into the
telecommunications sector and highlights its dedication to propelling infrastructure
development, broadening connectivity and catalysing digital advancement across
Africa.
AT Ghana is a telecommunication company, wholly owned by the Government of
Ghana, that provides a broad spectrum of dynamic telecommunication services
including voice, data, mobile financial services, and business connectivity solutions.
Guided by its core vision of "A better life for our customers", AT Ghana strives to foster
a more sustainable future by delivering next generation products and services that
enable economic and social progress for its customers and stakeholders.
The Acquisition of a majority interest in AT Ghana will align seamlessly with Rektron's
overarching infrastructure strategy of building resilient, connection-driven ecosystems
across critical sectors. With AT Ghana's proven capability and its position as a leading
mobile network operator in the country, serving over 2.3 million users, this investment
will accentuate the Company's ability to generate stable cash flows and deliver long-
term value. Moreover, the rapidly expanding digital landscape in Ghana presents
significant growth opportunities for advanced telecommunications services, financial
inclusion, and digital connectivity solutions. By leveraging Rektron's strategic vision
and operational expertise, this partnership is poised to accelerate AT Ghana's
trajectory of sustainable growth, further strengthening its market leadership and
contributing meaningfully to the socio-economic development of Ghana.
The Government of Ghana has expressed strong support for the Acquisition,
recognizing its potential to bolster the country's telecommunications infrastructure and
digital economy.
"We are excited to take a significant stake in AT Ghana and appreciate the support of
the Government of Ghana as we take a significant stake in AT Ghana. This aligns with
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our global vision to advance major infrastructure initiatives, foster innovation, and
deliver value to consumers throughout the region," said Atanas Kolarov, Chief
Executive Officer of Rektron.
"This partnership marks a major milestone in our mission to advance
telecommunication services in Ghana. Through our strategic collaboration with
Rektron bringing global best practices, strategic investment, and next-generation
infrastructure--we will strengthen our mobile network, expand nationwide coverage,
and modernize service delivery. These improvements will enable us to drive down the
cost of mobile data while increasing speed, reliability, and access. By making
affordable, high-quality connectivity available to customers across all regions--
including remote areas--we will be empowering every Ghanaian to fully participate in
the digital economy and benefit from the opportunities it brings," said Nana Richmond
Aggrey, the Founder and Chairman of Afritel Ghana.
The Company, Afritel and the Government of Ghana entered in a Memorandum of
Understanding (MoU) on May 21, 2025, in respect of the Acquisition, which is
expected to accelerate AT Ghana's growth by leveraging Rektron's financial strength
and Afritel's deep local expertise, ultimately benefiting millions of Ghanaian consumers
and business.
Conclusion of the Acquisition remains subject to certain conditions, including the
completion of satisfactory due diligence, the finalization of financial terms and
conditions, execution of definitive documentation in respect of the Acquisition and the
receipt of applicable regulatory approvals. While the parties are working collaboratively
to a successful close, there can be no assurance that the Acquisition will be
consummated. The Company will provide frequent updates with regards to the
Acquisition.
About Rektron Group Inc.
Rektron Group Inc. (CSE: REK.U | FRA:75) is a diversified leading multinational
corporation dedicated to investing in innovative projects worldwide. Focused on
emerging markets, Rektron aims to deliver sustainable growth and impactful solutions.
Through its subsidiaries Rektron continues to serve global markets as a physical
commodities trading and infrastructure company.
Rektron is committed to driving long-term value through innovation, responsible
resource management, and a strategic focus on circular economy principles and
communication.
Please visit www.rektrongroup.com for further information.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking
information within the meaning of Canadian securities legislation (collectively,
"forward-looking statements") that relate to Rektron's current expectations and views
of future events. Any statements that express, or involve discussions as to,
expectations, beliefs, plans, objectives, assumptions or future events or performance
(often, but not always, through the use of words or phrases such as "will likely result",
"are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes",
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"estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and
"outlook") are not historical facts and may be forward-looking statements and may
involve estimates, assumptions and uncertainties which could cause actual results or
outcomes to differ materially from those expressed in such forward-looking
statements. Forward-looking statements in this news release include, but are not
limited to, statements in respect of the terms and completion of the Acquisition and the
Company's diversification into the telecommunications sector. No assurance can be
given that these expectations will prove to be correct and such forward-looking
statements included in this news release should not be unduly relied upon. These
statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject
to a number of risks and uncertainties, many of which are beyond Rektron's control,
which could cause actual results and events to differ materially from those that are
disclosed in or implied by such forward-looking statements. Such risks and
uncertainties include, but are not limited to, other factors set forth under "Cautionary
Note Regarding Forward-Looking Statements" and "Risk Factors" in the Company's
annual information form for the year ended July 31, 2024 and dated November 25,
2024, and other continuous disclosure documents available on the Company's profile
SEDAR+. Rektron undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except
as may be required by law. New factors emerge from time to time, and it is not possible
for Rektron to predict all of them or assess the impact of each such factor or the extent
to which any factor, or combination of factors, may cause results to differ materially
from those contained in any forward-looking statement. Any forward-looking
statements contained in this news release are expressly qualified in their entirety by
this cautionary statement.
No securities regulatory authority has either approved or disapproved of the contents
of this news release.
FOR FURTHER INFORMATION CONTACT:
Martyna Jovaisaite
Rektron Group Inc.
investorrelations@rektrongroup.com
(604) 359-5412
Chris Santa Cruz
Alliance Advisors IR
604-787-0563
csantacruz@allianceadvisors.com
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