Pasofino Gold Limited (TSXV:VEIN) agreed to acquire additional 51% stake in Pasofino Gold Limited from Hummingbird Resources PLC (AIM:HUM) on November 1, 2022. In connection with the sale by HB PLC, Pasofino will issue to HB PLC that number of common shares of Pasofino that results in HB PLC owning 51% of the outstanding common shares of Pasofino at such time. In addition HBL PLC has a anti-dilution right that provides that if, as and when any warrants outstanding as at the date the option satisfaction notice was issued by Pasofino are exercised Pasofino shall issue to HB PLC one common share for each common share issued in connection with such exercise. The completion of the purchase and sale is subject to the receipt of all required government, TSX Venture Exchange and shareholder approvals. As on August 23, 2023, the Pasofino Gold shareholders have approved the transaction.

Pasofino Gold Limited (TSXV:VEIN) completed the acquisition of additional 51% stake in Pasofino Gold Limited from Hummingbird Resources PLC (AIM:HUM) on December 7, 2023. As consideration for the Project Consolidation, Pasofino will issue to HB PLC 54.02 million common shares in the capital of the Company resulting in HB PLC holding a 51% shareholding interest in Pasofino and therefore becoming a "control person" of Pasofino as defined by the policies of the TSX Venture Exchange.