Allen Green Announces Updated Holdings in Akwaaba Mining Ltd. and Filing of Early Warning Report

Allan Green, Chairman and CEO of Akwaaba Mining Ltd, announces certain acquisitions of Akwaaba Mining Ltd. ("AML"), a reporting issuer whose securities are traded on the TSX Venture Exchange, pursuant to National Instrument 62-103- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103").

Allan Green was an existing control person of AML prior to the Share Acquisition described. Grizal was an existing control person of AML prior to the Share Acquisition described and ceased to be a control person of AML following the completion of the Share Acquisition.

Prior to the Share Acquisition described, Allan Green beneficially owned and controlled 8,304,517 Shares and 350,000 share purchase warrants, each warrant entitling the holder to acquire one Share (the "Warrants"), representing approximately 56.79% of the outstanding shares on a non-diluted basis and 57.80% on a fully diluted basis assuming full exercise of the Warrants.

On March 06, 2026, Allan Green acquired 2,340,593 common shares of AML (the "Shares") from Grizal Enterprises Ltd. ("Grizal") and 1,000,000 Shares from Marsevia Holdings Ltd. ("Marsevia"), a company beneficially owned by Grizal, each at $0.13 per Share for total consideration of CAD $434,277.30 (collectively, the "Share Acquisition").

The Share Acquisition was completed by way of a private agreement between Allan Green, Grizal and Marsevia. Candel & Partners SAS, a French company beneficially owned by Mr. Green, will hold 728,183 of the Shares in the Shares Acquisition on behalf of Mr. Green. Allan Green acquired ownership of 3,340,593 Shares pursuant to the Share Acquisition.

Following such purchase, Allan Green beneficially owns and controls 11,645,110 Shares, representing 79.64% of the outstanding shares on a non-diluted basis and 82.03% of the outstanding shares on a fully diluted basis assuming full exercise of the Warrants.

Mr. Green's acquisition of additional shares is for investment purposes, in response to an unsolicited opportunity to increase his investment in AML. Mr. Green has no current plans with respect to the securities, and Mr. Green may, subject to applicable law and depending on market and other conditions and the availability of other investment and business opportunity, increase or decrease his beneficial ownership of AML's securities, whether in the open market, by privately negotiated agreements or otherwise, or may develop such plans or intentions in the future.

The Share Acquisition was completed in reliance on the "private agreement exemption" contained in Section 4.2 of National Instrument 62-104 - Take-Over Bids and Issuer Bids, on the basis that (i) the purchase of the Common Shares was not be made from more than five persons in the aggregate, (ii) the offer to purchase was not be made generally to all holders of Common Shares, and (iii) there is a reasonable basis for determining that the value of the consideration paid for any of the securities is not greater than 115% of the value of the securities.

This news release is issued pursuant to NI 62-103, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report of Allan Green will be available under AML's profile on SEDAR+ at www.sedarplus.ca.

No stock exchange, securities commission or other regulatory authorized has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286529