Mx2 Mining completes transaction for Amizmiz Gold Project
Mx2 Mining Inc. has officially completed its formation with the acquisition of a 100% interest in the Amizmiz Gold Project, located in the Kingdom of Morocco, from Aya Gold & Silver Inc. (“Aya”). This milestone marks Mx2’s formal launch as a gold exploration company focused on Morocco and North Africa.
Amizmiz Gold Project
The Amizmiz Project hosts a historic inferred mineral resource of 819,769 tonnes grading 12.98 g/t gold, for a total of 342,094 ounces. In connection with the transaction, Mx2 completed a brokered private placement in November 2024, raising C$16.0 million through the issuance of common shares and subscription receipts priced at C$0.50 per security. Aya subscribed C$1 million in the financing, and now owns 22,000,000 common shares, representing 42.3% of Mx2’s outstanding shares. The company currently has 52,000,001 common shares issued and outstanding.
As part of the transaction, Aya received 20,000,000 common shares of Mx2 and has entered into an investor rights agreement (IRA) with Mx2, Mr. Richard Clark, and Mr. Adam Spencer. This agreement includes a mutual two-year lock-up period on share sales, extending until November 14, 2026. In support of its long-term operational strategy, Mx2 has established an office in Marrakech, strategically located less than an hour from the Amizmiz property and adjacent to Aya’s local office. This positioning enhances collaboration with local partners and supports efficient exploration activities.
Mx2 has also strengthened its governance and technical leadership by appointing Aya representatives Benoit La Salle and Ugo Landry-Tolszczuk to its board of directors. With strong institutional backing (23% ownership) and insiders holding 10%, Mx2 is well-capitalized and positioned for aggressive exploration growth. The company is actively evaluating multiple new opportunities in Morocco and Mauritania. President and CEO Adam Spencer noted that the launch of Mx2 is the result of months of strategic groundwork, highlighting the team’s extensive experience in African gold exploration and the strong support from Aya as key factors in its future success.
