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Message: [QUOTE="Queen, post: 86725, member: 27"] A US$4.85 million takeover just flipped GREAT Quest Gold into Ongwe Minerals Incorporated, handing Lotus Gold’s assets over and tightening a new gold hunt across Namibia and Egypt. Corporate shakeup and deal structure [LIST] [*]GREAT Quest Gold rebranded as Ongwe Minerals Incorporated. [*]Ongwe snapped up Lotus Gold in a US$4.85 million deal. [*]Dave Underwood said a court approved the arrangement plan. [*]Lotus’ 21 million shares went for US$0.50 each. [/LIST] Lotus Gold’s profile and shift [LIST] [*]Lotus Gold Corporation operated as a private Canadian explorer. [*]Its focus sat on gold ground in the Egyptian Eastern Desert. [*]A reverse takeover turned Lotus into Ongwe’s wholly owned unit. [*]Egypt and Namibia assets will anchor the combined strategy. [/LIST] Namibia projects and exploration push [LIST] [*]Ongwe Minerals Incorporated controls licences in the Damara Orogenic Belt. [*]The Khorixas Gold Project sits inside that northern zone. [*]Omatjete and Outjo projects round out the Namibian portfolio. [*]Drill rigs are being mobilized toward fresh gold targets. [/LIST] Founders and track record flex [LIST] [*]Carl Joone and Harmen Potgieter form the technical founders team. [*]Osino Resources principals back Ongwe as major shareholders. [*]Heye Daun led Osino Resources during the Twin Hills discovery. [*]Shanjin Gold International bought Twin Hills for CA$368 million. [/LIST] Ownership split after completion [LIST] [*]Former GREAT Quest Gold Ltd shareholders hold about 35.4%. [*]Ex Lotus investors control roughly 64.6% of Ongwe shares. [*]Share distribution shifted once the arrangement closed. [*]Ongwe emerged positioned as a new Namibian gold explorer. [/LIST] [/QUOTE]

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