On April 21, 2025, Lumina Gold Corp. announced it had entered into a definitive agreement with CMOC Singapore Pte. Ltd., a subsidiary of CMOC Group Limited, under which CMOC will acquire all issued and outstanding Lumina shares for C$1.27 per share in an all-cash transaction valued at approximately C$581 million on a fully diluted basis. This represents a 71% premium over Lumina’s 20-day VWAP and a 41% premium over its April 17 closing price. The deal was announced on April 21, 2025, and is expected to close in Q3 2025.

Concurrently, CMOC will provide interim financing through the issuance of US$20 million in unsecured convertible notes maturing on April 21, 2026, with an annual interest rate of 6.0%. At the time of announcement, the USD value translated to approximately C$27.5 million.

Lumina’s Board unanimously approved the transaction following recommendations from a special committee and a fairness opinion provided by RBC Capital Markets. The transaction will proceed via a court-approved plan of arrangement and remains subject to regulatory, shareholder, and court approvals.

Moelis & Company LLC acted as Lumina’s financial advisor, with Borden Ladner Gervais LLP, Skadden Arps Slate Meagher & Flom LLP, and Tobar ZVS serving as legal counsel. CMOC was advised by BMO Capital Markets, with legal counsel from McCarthy Tétrault LLP, Bustamante Fabara S.A.S., and Flor Bustamante Pizarro & Hurtado. PricewaterhouseCoopers LLP served as CMOC’s tax advisor. RBC Capital Markets also provided a fairness opinion to the Lumina Board.