Pilar Gold Inc. entered into a definitive agreement to acquire Mina Tucano Ltda and Tucano Resources Mineração Ltda from Great Panther Mining Limited (OTCPK:GPLD.F) and others for RM BRL0.000002 million on August 17, 2023. This is done along with the submission of a proposed payment plan to Mina Tucano's creditors which, if approved and confirmed by the court, will see operations resume in Q4´23 and make Mina Tucano the largest employer in the state of Amapá, Brazil. The Tucano Group and Pilar Gold continue to hold productive discussions with the creditors of the Tucano Group, which expect to lead to a Plan approval in the next general meeting of creditors scheduled for September 15, 2023.

Pilar Gold Inc. completed the acquisition of Mina Tucano Ltda and Tucano Resources Mineração Ltda from Great Panther Mining Limited and others on October 25, 2023.