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benzinga2d ago

Ongwe Minerals Announces Closing of Reverse Takeover and Concurrent Financing and Expected Date for Commencement of Trading

Highlights:Completion of Reverse Takeover by way of plan of arrangement with Lotus Gold Corporation.Completion of name change from Great Quest Gold to Ongwe Minerals Inc. with trading symbol OGW and consolidation of common shares.Closing of $4.85 Million Concurrent Financing at $0.50 per Share on a post-Consolidation basis.VANCOUVER, British Columbia, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Further to the news release dated February 3, 2026, Ongwe Minerals Inc. (formerly, Great Quest Gold Ltd.)("Ongwe" or the "Company") (TSXV:OGW) is pleased to announce the closing yesterday of its previously announced reverse takeover transaction (the "RTO") of Ongwe by Lotus Gold Corporation ("Lotus") by way of a statutory plan of arrangement (the "Arrangement"), pursuant to which Ongwe has acquired all of the issued and outstanding common shares of Lotus by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and Lotus became a wholly-owned subsidiary of the Company.Trading of the common shares of Ongwe (the "Ongwe Shares") continues to be halted, and final acceptance by the TSXV of the RTO will occur upon the issuance of the final bulletin in respect of the RTO by the TSXV (the "Final Bulletin") which is expected as early as on or about February 10, 2026. Subject to the issuance of the Final Bulletin, trading on a post-Consolidation (as defined below) basis will commence on the TSXV under the new trading symbol "OGW" as early as at the opening of trading on February 12, 2026. The Final Bulletin issued by the TSXV will confirm the date that trading will commence.Dave Underwood, Ongwe's incoming CEO : "We are delighted to have finally concluded the RTO, and that Ongwe has thus been born as a new exciting gold explorer in Namibia. Working together with the highly accomplished technical founders team of Carl Joone and Harmen Potgieter, Ongwe Minerals represents the coming together of Namibian technical prowess, strong access to financing and capital markets traction and the established track record of the founders of Osino Resources, who are also principals and major shareholders of Ongwe Minerals (Osino was founded in 2015, discovered the 3.5moz Twin Hills gold project in 2019, and was sold to ShanjinGold International for CAD368m in 2024). Under the capable new leadership team, this group has the knowledge & experience, plus the drive and access to financing to again achieve success in gold exploration in Namibia. Having already consolidated a highly strategic land package and delineated two major surface gold discoveries, and with drill rigs currently being mobilized, Ongwe is looking to quickly make its mark with the aim of making another major gold discovery in this emerging new gold belt in Namibia, bookended, and on-trend with the successful WIA Gold, Osino Resources and B2Gold."Name Change and ConsolidationPrior to the completion of the Arrangement, and with effect as of post-market close on February 9, 2026, Ongwe completed its previously announced name change to "Ongwe Minerals Inc." (the "Name Change") and the 16:1 consolidation (the "Consolidation"), further details of which are set forth in its news release of February 3, 2026.The RTOThe Arrangement became effective as of 12:01 am (Vancouver time) on February 9, 2026 (the "Effective Time"). As a result, and in accordance with the terms of the arrangement agreement dated ...Full story available on Benzinga.com

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thewhig2d ago

HTX Opens Trading for KGST (KGSToken)

Panama City, Panama–(Newsfile Corp. – February 10, 2026) – HTX, a leading global cryptocurrency exchange, has announced the listing of KGST (KGSToken) on February 9. KGST/USDT spot trading is now available to users on HTX. KGST is a fully-backed stablecoin pegged 1:1 to the Kyrgyz Som (KGS), designed to provide a secure, transparent, and efficient [...]

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AI central to improving revenue, public service delivery: finance minister
brecorder2d ago

AI central to improving revenue, public service delivery: finance minister

Finance Minister Muhammad Aurangzeb on Tuesday said artificial intelligence is increasingly central to Pakistan’s efforts to improve public service delivery, strengthen revenue administration and support evidence-based policymaking.He was speaking at a panel discussion titled “AI for Public Service Transformation and SDG Acceleration” during the National Artificial Intelligence Workshop in Islamabad.Addressing the forum, the finance minister said countries were adopting artificial intelligence at varying speeds, shaped by their economic structures and development priorities.For Pakistan, he stressed, the focus must remain on applied and practical solutions that deliver measurable gains in efficiency, transparency and productivity, rather than pursuing technology for its own sake.Aurangzeb said AI-enabled systems were already playing a growing role in improving tax compliance, enforcement and decision-making.He noted that the government’s ongoing tax transformation, based on reforms in people, processes and technology, was leveraging AI-driven customer relationship management systems, production monitoring tools, risk-based compliance mechanisms and faceless customer processes.“These interventions are aimed at reducing leakages, enhancing transparency and improving revenue outcomes,” he said, adding that limiting discretionary human intervention through technology was essential to curbing inefficiencies and corruption.The finance minister said AI-led systems had delivered tangible fiscal gains that would not have been possible through manual processes alone.Touching on digital assets, Aurangzeb said the establishment of the Pakistan Virtual Asset Regulatory Authority (PVARA) reflected the government’s intent to manage risks while integrating emerging technologies into the formal economy.Bringing such activity into a regulated framework, he said, was vital for financial stability and unlocking future economic potential.He also underscored the importance of investing in human capital and skills development to enable Pakistan’s youth to access higher-value segments of the global technology ecosystem.Advanced technologies such as blockchain and data analytics, he added, could support productivity-led growth and expand income opportunities.Concluding his remarks, Aurangzeb said artificial intelligence offered significant opportunities for Pakistan in areas including revenue mobilisation, public service delivery, and climate and population management.However, realising these benefits, he cautioned, would require clear policy direction, institutional readiness and a coordinated, whole-of-government approach to digital transformation.Federal Minister for Climate Change and Environmental Coordination Dr Musadik Malik, Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja, and Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal were also present at the session.

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MicroStrategy to buy Bitcoin 'every quarter'
biztoc2d ago

MicroStrategy to buy Bitcoin 'every quarter'

MicroStrategy Inc., doing business as Strategy, will keep buying Bitcoin "every quarter forever," founder Michael Saylor said on Tuesday. He told CNBC that the company has 2.5 years' worth of dividend...

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