Mx2 Mining Expands in Morocco with Aya Gold & Silver Deal Completion
Deal News | Apr 16, 2025 | Globenewswire
Mx2 Mining Inc., a gold exploration and development company, has announced the completion of its transaction with Aya Gold & Silver Inc., acquiring a 100% interest in the Amizmiz Gold Project located in Morocco. The transaction involved the issuance of 20,000,000 Common Shares to Aya, making Aya the owner of 42.3% of Mx2's Common Shares. A brokered private placement conducted in November 2024 raised C$16.0 million for Mx2, facilitating the acquisition and the establishment of a strong operational base in Morocco. Mx2 has also made several key appointments to its board and management team, indicating its focused expansion within North Africa's gold exploration sector. The company's strategy reflects a commitment to pursuing additional opportunities in Morocco and Mauritania.
Sectors
- Mining
- Private Equity
Geography
- Morocco – The Amizmiz Gold Project is located in the Kingdom of Morocco, and Mx2 is establishing operations there.
- Canada – Mx2 Mining Inc. is based in Toronto, Canada, and the Announcement is released through a Canadian newswire.
Industry
- Mining – This article is primarily about the acquisition of a gold project by Mx2 Mining Inc., involving gold exploration and development activities.
- Private Equity – Aya Gold & Silver Inc.'s involvement in the transaction and its ownership stake in Mx2 highlights the investment and shareholder dynamics characteristic of private equity ventures.
Financials
- C$16,000,000 – Total gross proceeds from the brokered private placement conducted by Mx2 in November 2024.
- C$1,000,000 – Investment amount subscribed by Aya in the financing round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mx2 Mining Inc. | Acquirer | Company | A gold exploration and development company focused on North Africa. |
| Aya Gold & Silver Inc. | Seller | Company | A company with mining activities, which sold its interest in Amizmiz Gold Project to Mx2, but retains a significant shareholder position. |
| Amizmiz Gold Project | Target Company | Asset | A gold mining project located in Morocco, acquired by Mx2 from Aya. |
| Adam Spencer | President & CEO | Person | President and CEO of Mx2 Mining Inc. |
| Aya Gold & Silver | Investor | Company | Aya invested in the financing and acquired shares in Mx2, becoming a significant shareholder. |
| Benoit La Salle | Board Member | Person | Appointed to the board of Mx2 as a representative of Aya Gold & Silver. |
| Ugo Landry-Tolszczuk | Board Member | Person | Appointed to the board of Mx2 as a representative of Aya Gold & Silver. |