The Toronto Stock Exchange reports that Condor Gold PLC will be halted at the open on Jan. 14, 2025, and will remain halted until the close on the same day, at which time the company will be delisted, in anticipation of the scheme (as defined below) being implemented on Jan. 15, 2025. According to the TSX, at Condor's court meeting and general meeting held on Jan. 6, 2025, holders of Condor shares approved the acquisition of Condor by Metals Exploration PLC, pursuant to a scheme of arrangement under Part 26 of the U.K. Companies Act 2006. The record date for the scheme is Jan. 14, 2025 (10 p.m. London time).

If the scheme is implemented, which is anticipated to occur on Jan. 15, 2025, Condor shareholders of record on the scheme record date will receive, for each Condor share held: (a) 4.0526 ordinary shares of Metals Exploration; (b) 9.9 pence in cash; and (c) one contingent value right. The TSX notes that fractions of Metals Exploration shares will not be allotted or issued pursuant to the scheme. Entitlements of Condor shareholders will be rounded down to the nearest whole number of Metals Exploration shares. All fractional entitlements to Metals Exploration shares will be disregarded.

For more information, see Condor's scheme document dated Dec. 11, 2024, available on SEDAR+.