OTC shell NGCG signed a letter of intent to combine with Ghana gold miner Narawa, which is using 4% of its land. CEO Jacob DiMartino called the deal an opportunity to create long-term value.
New Generation Consumer Group, a Scottsdale-based OTC-listed shell that pivoted to AI infrastructure, said Thursday it signed a letter of intent to combine with Narawa Company Limited, a Ghanaian gold miner. NGCG shares trade around $0.01.
Narawa holds an active mining lease in Ghana's Eastern Region, near the communities of Nsuapemso and Nsutam. The company is currently using 4% of its land holdings, according to the press release. NGCG said its capital-raising capabilities could help Narawa expand production.
Jacob DiMartino, NGCG's CEO, called the deal "an exciting opportunity" that could "create long-term value for our shareholders." He said Narawa has "established a meaningful presence in Ghana's gold mining sector through its active mining lease and strong community relationships."
The miner has funded a six-unit classroom block, built a durbar ground and donated equipment to local education directorates, the release said. Those efforts have earned recognition from local traditional leaders.
NGCG said it is also in talks about other mining acquisitions across multiple international markets. The company did not disclose terms of the Narawa LOI or a timeline for a definitive agreement.
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