Notification of Acquisition and Facility Conversion

Elipse International Ltd is pleased to inform the general public about the recent acquisition of Alsar Nigeria Ltd. This announcement follows the successful outright purchase completed on the 11th of December, 2021. Alsar Nigeria Ltd, previously specialising in the processing of kaolin and dolomites, was formerly owned by a Chilean company which has since exited the Nigerian mining market.

We wish to notify all stakeholders and the general public that Elipse International Ltd will be converting this newly acquired facility into a dedicated base metal plant. Our objective is to enhance our operational capabilities and expand our presence in the Nigerian mining industry by focusing on the production and processing of base metals.

This strategic move underscores our commitment to contributing to the growth and development of the local mining sector and enhancing the economic landscape of Nigeria. We believe that this conversion will offer significant benefits, not only to2 our company but also to our employees, partners, and the community at large.

We appreciate your continued support and understanding during this transitional period.