HK GOLD IND GP (02623.HK): to acquire about 6.63% of MJS for HK$92.35 million, raising stake to 9.45%

NewTimeSpace News: On 3 November 2026, Hong Kong Gold Industry Group Limited (02623.HK)disclosed that on 2 November it entered into a sale and purchase agreement with the vendor, Junjing Capital Management Limited, to conditionally acquire an aggregate of 94,230,769 shares of Majestic Gold Corp. ("MJS"), representing approximately 6.63% of the total issued share capital of MJS, for a total consideration of HK$92,346,154, equivalent to HK$0.98 per share.

Prior to the acquisition, the company had entered into an agreement with the vendor on 16 September 2026 to acquire 25,000,000 MJS shares for HK$19,637,425. As the prior acquisitions and this acquisition both involve the acquisition of MJS shares, they are required to be aggregated under Listing Rules 14.22 and 14.23, and the highest applicable percentage ratio after aggregation exceeds 5% but is below 25%, constituting a discloseable transaction. Upon completion, the company will hold an aggregate of 134,335,769 MJS shares, representing approximately 9.45% of the issued share capital of MJS.

MJS is a mining company listed on the Tier 1 of the TSX Venture Exchange, headquartered in Vancouver, Canada, conducting mining operations in China, with the Songjiagou Gold Mine (SJG) as its flagship project, and holding a 44.06% effective interest in SJG through its 58.75%-owned subsidiary Persistence Gold Group Ltd (02489.HK). The board considers the acquisition a suitable and strategically meaningful long-term investment that will further expand the group's business into the gold mining industry and advance its diversification plan.