Vancouver, British Columbia--(Newsfile Corp. - September 17, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce that it has entered into a non-binding letter of intent (the "LOI") with Aion Mining Corp. ("Aion") outlining the general terms and conditions of a proposed transaction whereby the Company will acquire a further interest in Aion to bring the Company's total shareholdings in Aion to 60% on a post-closing, fully-diltued basis (the "Proposed Transaction").

The Proposed Transaction

In consideration of additional shares of Aion, the Company will pay $5,000,000, comprised of the following:

$4,000,000 in cash on closing; and
$1,000,000 in common shares of the Company at a price per share equal to the closing of the share price of the Company on the closing date of the Proposed Transaction, subject to CSE policies.
The Company will also be granted anti-dilution rights by Aion for a 12-month basis post-closing, and a subsequent right of first refusal on all equity financings by Aion for the ensuing 4-year period, so as to allow the Company to maintain a post-closing control position of 60% in Aion's voting securities on a fully-diluted basis. see & read more on
https://www.newsfilecorp.com/release/223591/