Newmont Sells Entire Stake in Azucar Minerals Ltd.

Newmont Corporation has announced the sale of its entire stake in Azucar Minerals Ltd. through its subsidiary, Newcrest Canada Holdings Inc. The transaction involved the sale of 14,674,056 common shares, representing approximately 19.9% of Azucar's issued and outstanding shares. The shares were sold to Almadex Minerals Ltd. and certain directors and officers of Azucar for a total of $220,110.84, equating to $0.015 per share. This transaction was conducted under a share purchase agreement dated October 21, 2024.

The sale was executed under the 'private agreement exemption' as outlined in Section 4.2 of National Instrument 62-104, which allows for such transactions under specific conditions, including the limitation on the number of purchasers and the price constraints relative to the market price.

This move reduces Newmont's ownership in Azucar from 19.9% to 0%, marking a significant shift in its investment portfolio. The transaction is part of Newmont's ongoing strategic asset management and was reported under the early warning provisions of Canadian securities legislation.

Newmont, headquartered in Denver, Colorado, is a leading global gold producer with a diversified portfolio including copper, zinc, lead, and silver. The company is renowned for its commitment to sustainable and responsible mining practices.