Orea Mining Corp. reported on June 13, 2023, that it terminated the proposed acquisition of Nord Gold plc's 55.01% interest in the Montagne d'Or gold project. Orea and Nordgold have mutually agreed to retract the termination of the Acquisition, and have proposed amended terms to the share purchase agreement.

The Amended Agreement provides that the CAD 100 million payment will only be made if and when all sanctions are lifted against Nordgold and its shareholders, iny all applicable jurisdictions, including in Canada, the United States, France, the UK and the EU. The Amended Agreement also stipulates that the Payment would no longer be due or payable if sanctions are still in effect the earlier of three years from receipt by Orea of all permits to operate a gold mine at Montagne d'Or, and seven years from closing of the Acquisition. The applicable sanctions authorities have been provided with a copy of the Amended Agreement for review.

The Amended Agreement has not been executed by Orea nor by Nordgold and will not be signed without the authorization of applicable sanctions authorities. Orea is unable to provide guidance on when it might receive a reply from applicable sanctions authorities; shareholders will be kept informed.