Market Overview

Nemesia Sarl Aquires Shares of Lundin Gold Inc from Lorito Holdings Sarl and Zebra Holdings and Investments Sarl


LUXEMBOURG, Jan. 21, 2021 /CNW/ - Following a corporate reorganization among three companies controlled by a trust settled by the late Adolf H. Lundin, i.e. Nemesia S.à.r.l. ("Nemesia"), Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l ("Zebra") all of 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, Nemesia announced today that on January 21, 2019, pursuant to a private arrangement, it had acquired 3,000,000 common shares of Lundin Gold Inc ("Lundin Gold" - TSX:"LUG" - NASDAQ Stockholm:"LUG") representing approximately 1.30% of the outstanding shares of Lundin Gold with 2,460,000 common shares and 540,000 common shares acquired from Lorito and Zebra respectively. The purchase and sales were executed at the price of SEK66.50 (Cdn$10.1233) through the facilities of the NASDAQ Stockholm for a total consideration of SEK199,500,000.00 (Cdn$30,369,885.00).

The purchase of the shares was made pursuant to the private agreement exemption set forth in Item 4.2. of the National Instrument 62-104 as it was a purchase from not more than 5 persons in the aggregated, and the price paid for the shares, including brokerage fees or commissions, was not greater than 115 % of the simple average closing price of the last 20 days of trading preceding the acquisition of the shares.

As a result of this acquisition, Nemesia now holds 17,043,407 common shares or approximately 7.41% of the issued and outstanding common shares of the Company whereas the disposals by Lorito and Zebra reduced their positions to the current level of 1,936,357 common shares or 0.84% and 42,809,357 common shares or 18.60% respectively.  Collectively, the three companies, fully owned by the same Trust, continue to hold an unchanged total of 61,789,121 common shares or approximately 26.85% of the issued and outstanding share capital of Lundin Gold.

Nemesia, Lorito and Zebra are joint actors with respect to their common shares of Lundin Gold. Nemesia acquired the common shares of Lundin Gold for investment purposes. Each of Nemesia, Lorito and Zebra may from time to time make future investment in or dispose of common shares of Lundin Gold depending upon the business and prospects of Lundin Gold and depending upon future market conditions.

A copy of the Early Warning Report filed pursuant to National Instrument 62-103 may be obtained from Sandy Kansky, 1-604-806-3574

SOURCE Zebra Holdings & Investments S.a.r.l.

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