REG - Imara Gold PLC - USD$1m Loan Facility and Mining Contract

IMARA GoldAnnouncement

29/01/2026 12:00

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RNS Number : 9449Q  Imara Gold PLC  29 January 2026

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014, AS AMENDED WHICH, BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, FORMS PART OF UK LAW. ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Imara Gold Plc

("Imara Gold" or the "Company")

USD$1.0 million Loan Facility and Mining & Processing Contract

 

Imara Gold Plc (LSE: IGLD), the East Africa focused gold company, announces
that it has entered into a USD$1,000,000 loan facility to support payments
committed to by the company in Kenya.

 

Together, these agreements are intended to address legacy stakeholder
obligations in Kenya, support the standing of the Kilimapesa licence area and
establish a contractor-led operating framework for the restart of mechanised
mining and heap leach processing, subject to regulatory confirmations and
mobilisation.

 

USD$1.0 Million Loan Facility

 

The Company has entered into an unsecured loan facility agreement with a
European based strategic investor  (the "Lender").

 

Key Terms:

 

·      Facility Amount: USD$1,000,000.

·      Instrument: Unsecured loan.

·      Return: 100% interest, such that a total of USD$2,000,000
(principal plus interest) is repayable.

·      Drawdown Date: 27th January 2026.

·      Repayment: 50% of free cash flow attributable to Kilimapesa Gold
(Pty) Ltd from the Kilimapesa Gold Mine, starting 30 days after contractor-led
production commences and continuing until USD$2,000,000 has been repaid.

·      The funds will be deposited with the company's lawyers in Escrow
and released according to instruction.

 

Use of Proceeds:

 

Under the loan and linked escrow arrangements, proceeds are ringfenced for
agreed Kenyan stakeholder and statutory obligations associated with the
Kilimapesa operation, including:

 

·      Payments to the Moyoi Community and related community groups;

·      Settlements with Narok County landowners under existing lease
arrangements; and

·      Payments to Kenyan-based employees connected with Kilimapesa.

 

Escrow Drawdown Conditions:

 

·      $62,562.50 on signature of agreement for administration and
regulatory payment;

·      $267,062.00 on agreement with the government on outstanding
license issues for full settlement of outstanding staff payments;

·      $360,000.00 on agreement with the government on outstanding
license issues for full settlement of Moyei community debt;

·      $80,470.00 on agreement with the government on outstanding
license issues for full settlement of Landlords debt;

·      $15,625.00 on agreement with the government on outstanding
license issues for full settlement of government royalties; and

·      the balance to cover monthly overheads and NSSF payments equally
over Feb, March and April 2026.

 

Gold Mining and Processing Contract:

 

Kilimapesa Gold (Pty) Ltd (KG), the Company's Kenyan subsidiary and licence
holder is in advanced negotiations with a respected industry contractor under
which the mining and processing activities will be performed by the
contractor. The contract will be a revenue sharing deal where KG will receive
a royalty on produced gold and with the contractor supplying mining equipment,
processing equipment, working capital and experienced operations team.
Contract mining activities to be carried out within the KG mining license area
and processing activities will be a circa 50,000tpm heap leach operation.

 

Under the contractor model the capital and working capital requirements of the
company are significantly reduced lessening possible dilution on existing
shareholders.

 

The company will provide an update and further information on the above in due
course.

 

Strategic Rationale:

 

These agreements:

 

·      Provide funding to address Kenyan stakeholder and licence-related
obligations;

·      Introduce a contractor-operated model under which mining
equipment and day-to-day operations are undertaken by the Contractor,

·      Establish a defined framework to support the restart of
mechanised operations at Kilimapesa, subject to regulatory confirmations and
site mobilisation, and

·      Provides assurance to the government of Kenya, creditors and
other stakeholders that their debt will be settled in a timely and pro-active
and guaranteed manner.

 

Jason Brewer, Executive Director of Imara Gold Plc, said:

 

"This funding and operating framework is about putting Kilimapesa back onto a
structured and sustainable footing. We are addressing community, land and
statutory matters, aligning with local stakeholders and putting in place a
contractor-led operating model. Subject to the required confirmations and
mobilisation, this gives the Company a clearer path toward restarting
mechanised production at Kilimapesa."

* * ENDS * *

For further information visit www.caracalgold.com or contact the following:

For enquiries contact:

 Imara Gold Plc

 Jason Brewer                                   jason@imaragoldplc.com

 Shareholder Enquiries                          info@imaragoldplc.com

 Bowsprit Partners Limited (Financial Adviser)  +44 (0) 203 883 4430

Notes:

Imara Gold Plc is an expanding East African focused gold company with a clear
strategy to grow gold production and gold resources both organically and
through strategic acquisitions and partnerships in East Africa.

Headquartered in Nairobi, Kenya, Imara is a responsible mining and exploration
company and supports the positive social and economic change that it
contributes to the communities in the regions that it operates. It is a
proudly East African-focused company: it buys locally, employs locally, and
protects the environment and its employees and their families' health, safety
and wellbeing.

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