DINGYI GP INV (00508) Plans to Acquire Zambia Mining License

Stock News
01/29

DINGYI GP INV (00508) announced that the company has entered into a series of related arrangements with an independent third party for the acquisition of a mining license located in Zambia. The mining license grants its holder the exclusive right to operate a gold mine in Zambia. The license holder, Cabral Mining Minerals Limited, is 99.996% owned by the target company, Wealthy Faith Group Limited. On January 29, 2026, the buyer, Igniscore Mineral Group Limited (an indirect non-wholly-owned subsidiary of the company), entered into a share purchase agreement with the sellers, Solid Stone International Limited and Li Jin Holding Limited, and their respective ultimate beneficial owners, under which the buyer intends to purchase the sale shares (collectively representing 70.0% of the equity interest in the target company). The consideration for the sale shares includes an initial cash payment of $3.42 million to be made upon completion, which may be adjusted upward or downward after completion based on the quantity of gold from the mine, as well as the sellers' profit-sharing rights. The company plans to cooperate with the manager, Li Jianbo, to manage and operate the mine. Concurrently with the signing of the share purchase agreement, a wholly-owned subsidiary of the company, an entity wholly-owned by the manager, and the manager entered into a shareholders' agreement outlining the terms of the cooperation. According to the terms agreed by the parties, the company will provide a shareholder loan to the buyer for the share purchase, and the manager will enter into a service agreement whereby he will provide services to the company regarding the management of the mine. Wealthy Faith Group Limited is jointly owned by Solid Stone International Limited and Li Jin Holding Limited. The target company is the holding company of the license holder, which holds the mining license granting its holder the exclusive right to develop and extract various minerals, including gold, at the Lusaka mine site in Zambia. The license holder is 99.996% owned by the target company and 0.004% owned by Zambian resident Paul Kabwe. The target company and the license holder were incorporated in November 2025 and February 2020, respectively. Neither entity has commenced any business operations since their incorporation. To the company's knowledge, no exploration or mining activities have been conducted at the mine site. In addition to its existing businesses such as securities trading, loan financing, and property development, the Group has been actively exploring potential investment opportunities. The Board of Directors believes that the acquisition enables the Group to enter the business of gold mining, exploration, and gold product trading.

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