Brasnova Energy Materials Inc., the TSX Venture Exchange-listed exploration company, has executed a modified binding agreement to acquire a 50% interest in five gold projects in Brazil.
The Canadian company entered into the agreement with BGC Gold Inc. on August 27, 2026, to acquire the stake through earned equity ownership in BGC's Brazilian subsidiary.
Under the terms, BGC Gold grants Brasnova the option to acquire the 50% equity interest by expending CA$1 million over a 24-month period from the execution date.
This total expenditure includes amounts already expended by Brasnova on the Capela gold project, as well as all work expenditures and property holding fees due for the projects.
Upon Brasnova's exercise of the option in full, BGC Gold will transfer its 50% equity ownership in its Brazilian subsidiary to Brasnova.
In addition to the original Capela gold project, the agreement adds four gold projects, expanding the total portfolio to 17,457.20 hectares.
The combined asset portfolio comprises nine individual process numbers totaling 17,457.20 hectares, with each permit area designated for gold exploration.
All five gold projects are hosted in the Bahia Gold Belt in Brazil alongside Pan American Silver's Jacobina gold mining complex and Equinox Gold (TSX:EQX)'s Santa Luz complex.
The execution of this modified agreement comes further to the announcement previously made in the company's news release dated January 19, 2026.