Leviathan Expands Portfolio with Botswana Acquisition
Deal News | Jun 19, 2025 | Globenewswire
Leviathan Gold Ltd. has announced a letter of intent for the acquisition of Cura Exploration Botswana Corp. (Privco), intending to acquire 100% interest in copper and uranium exploration properties in Botswana. The non-binding agreement outlines Leviathan's plan to issue shares and assume obligations under existing agreements to buy the AfriMetals Entities, which hold prospecting licenses on the Kalahari Copper Belt and an extensive portfolio of uranium assets. This strategic acquisition aims to position Leviathan Gold at the forefront of potential major copper and uranium discoveries, leveraging Botswana's stable and mining-friendly jurisdiction. The transaction involves issuance of shares and potential milestone payments to Privco shareholders, contingent upon resource discoveries meeting specific criteria. The deal remains subject to due diligence and regulatory approvals, with no assurance of completion. This marks a significant expansion in Leviathan Gold's exploration activities, targeting highly prospective geological areas adjoining major established mineral resources.
Sectors
- Mining and Metals
Geography
- Botswana – Botswana is the primary geographical focus given the acquisition targets exploration properties within its borders, notably on the Kalahari Copper Belt.
- Canada – Leviathan Gold Ltd., the acquiring company, is based in Canada and is engaging in international mining asset acquisition.
Industry
- Mining and Metals – The article focuses on the acquisition of copper and uranium exploration properties, which falls directly within the mining and metals industry. This includes exploration, prospecting, and strategic acquisitions to enhance mineral resource portfolios.
Financials
- 35,000,000 common shares – Shares of the Company to be exchanged for all Privco Shares.
- 5,500,000 common share purchase warrants – Company warrants to be issued in exchange for Privco Warrants with specific terms.
- US$2,200,000 – Cash consideration to be paid by Privco under Share Purchase Agreements, partly advanced to date.
- C$3,000,000 – Targeted gross proceeds from a planned private placement by Privco.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Leviathan Gold Ltd. | Acquirer | Company | A Canadian-based mineral exploration company publicly traded on the TSXV and other exchanges. |
| Cura Exploration Botswana Corp. (Privco) | Target | Company | A privately held company involved in mining exploration, particularly with agreements to acquire prospecting licenses in Botswana. |
| Afri Energy Pty Ltd. | Selling Company | Company | One of the entities involved in the Share Purchase Agreements holding prospecting licenses in Botswana. |
| AfriMetals No. 1 Pty Ltd. | Holding Entity | Company | Holder of copper prospecting licenses in Botswana through its subsidiary. |
| AfriMetals No. 2 Pty Ltd. | Holding Entity | Company | Another entity holding copper licenses in Botswana. |
| 1502656 B.C. LTD. | Investor Relations Advisor | Company | Company engaged to provide strategic digital media services and marketing for Leviathan Gold's investor relations. |