Goldinvest Consulting GmbH, CA5109151012

Goldinvest Consulting GmbH / CA5109151012

28.06.2024 - 07:03:00

Lake Victoria Gold clears key hurdle in transfer of Imwelo mining licence

Issuer: Goldinvest Consulting GmbH / Key word(s): Mergers & Acquisitions/Drilling Result

28.06.2024 / 07:03 CET/CEST
The issuer is solely responsible for the content of this announcement.

Next stage of investment triggered!

Lake Victoria Gold (TSX-V:LVG; FRA: E1K) has cleared a key formal hurdle in its acquisition of the advanced stage Imwelo Gold Project in Tanzania. The Company announces that the Tanzania Revenue Authority (“TRA”) has finally issued the due tax assessment notice for the acquisition of the Imwelo Mining Licence (“ML”). The amount owed is within the expected range and is financially marginal.

Lake Victoria intends to pay the tax liability immediately in order to obtain the tax clearance certificate required for the final transfer of the Imwelo licence. This certificate, together with the positive vote already received from the Fair Competition Commission (“FCC”), is a prerequisite for the Mining Commission to transfer the title of the Imwelo Mining Licence to LVG. This transfer is regarded as a formality, as LVG now fulfils all the requirements. The Imwelo project is ready for production and, together with the neighbouring Dora project, has the potential for significant growth.

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According to §34b WpHG and §48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Lake Victoria Gold and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, there is a contractual relationship between Lake Victoria Gold and GOLDINVEST Consulting GmbH, which involves GOLDINVEST Consulting GmbH reporting on Lake Victoria Gold. This is another clear conflict of interest.

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