African Discovery Group Announces Shareholder Approval of Butembo Merger Agreement

Rhea-AI Summary

African Discovery Group (OTC:AFDG) announced shareholder approval of its pending merger to acquire 100% of SOCIETE GRABIN MINING SAS (Butembo Copper Exploration license) in the Democratic Republic of Congo.

The stock-based Transaction will create a dedicated copper exploration company called Copper Intelligence, which the company says would become the first stand-alone DRC company publicly traded in the United States. The deal is expected to close imminently, subject to customary closing conditions. EAS Advisors acted as corporate advisor. Leadership named includes Andrew Groves and Aldo Cesano; Alan Kessler is outgoing chairman and CEO.

Positive

• Shareholder approval obtained for the merger
• Acquisition of 100% of SOCIETE GRABIN MINING SAS
• Copper Intelligence to be first stand-alone DRC company listed in US

Negative

• Transaction is stock-based, implying potential share issuance
• Closing remains subject to customary conditions and is not yet complete

News Market Reaction

+11.65%

1 alert

+11.65% News Effect

On the day this news was published, AFDG gained 11.65%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Combined Company, "Copper Intelligence" to become the first stand-alone Democratic Republic of Congo (DRC) company to be publicly traded in the United States.

NEW YORK, Jan. 15, 2026 /PRNewswire/ -- African Discovery Group (OTC:AFDG) ("AFDG" or the "Company") announced today that shareholders have approved the Company's pending merger with Butembo Copper Exploration license in the DRC to acquire 100% of the shares of SOCIETE GRABIN MINING SAS (the "Transaction"). Subject to the completion of the closing, the stock-based transaction will create a dedicated copper exploration company, with a focus on creating value around Africa and DRC specifically focused on under-explored basins of copper.

"We are proud to have delivered this compelling opportunity for shareholders, and are confident in our ability as a combined company, to participate in a substantial buildout of copper on a global scale," said Alan Kessler, the outgoing Chairman and CEO of African Discovery Group. "According to Rio Tinto, African deposits make up eight out of the ten highest grade copper deposits discovered since 1990 globally. DRC's copper production itself is among the largest in the world, with the DRC itself concentrating 65% of newly announced copper reserves identified worldwide, according to S&P Global Market Intelligence. Because of the resolution of numerous geopolitical differences precluding this development previously in the DRC, the Trump administration has paved the way for this commercialization process."

He added, "We are confident the copper demand environment between grid modernization, data usage, electronic vehicles, and telecommunications, rural electrification of India, Artificial Intelligence infrastructure, next generation defense systems to name a few, will continue to put broad demand-based pressure on global supply.  A favorable environment for the commodity has additionally been augmented by the strategic mineral designation of Copper by the US government, as well as recent mega mergers of Copper producers.  Under the leadership of Andrew Groves and Aldo Cesano, who have spent their careers developing mining projects in the DRC and the region, we look forward to their buildout of this pioneering African company."

The transaction is expected to close imminently, subject to the satisfaction or waiver of customary closing conditions. When completed, the Merger will result in the combined company becoming the first stand-alone DRC company to be publicly traded in the United States.

EAS Advisors LLC have acted as the corporate advisor for the Company on the Transaction.

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Media Contact:
www.copperintelligence.com
Maxine Gordon
mg@africandiscoverygroup.com
(917) 478-0406

 

View original content:https://www.prnewswire.com/news-releases/african-discovery-group-announces-shareholder-approval-of-butembo-merger-agreement-302662498.html

SOURCE African Discovery Group

FAQ

What did AFDG announce on January 15, 2026 regarding the Butembo merger?

AFDG announced shareholder approval of a merger to acquire 100% of SOCIETE GRABIN MINING SAS (Butembo license).

What is Copper Intelligence and how does it relate to AFDG (AFDG)?

Copper Intelligence is the combined company to be created by the stock-based merger, focused on copper exploration in the DRC.

Will the combined company be publicly traded in the United States (AFDG)?

The company said the Merger will result in the combined company becoming the first stand-alone DRC company publicly traded in the US, pending closing.

When will the AFDG–Butembo transaction close and what conditions apply?

The transaction is expected to close imminently, subject to satisfaction or waiver of customary closing conditions.

Who are the named leaders for the combined company in the AFDG merger?

Leadership named includes Andrew Groves and Aldo Cesano; Alan Kessler is outgoing chairman and CEO.