Zebra Holdings and Investments S.à.r.l. and Lorito Holdings S.à.r.l. Agree to Acquire Shares of Lundin Gold Inc.

LUXEMBOURG, Feb. 26, 2018 /CNW/ - Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l. ("Zebra"), two companies controlled by a trust settled by the late Adolf H. Lundin, and as such joint actors, both incorporated under the laws of Luxembourg, 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announced today that, pursuant to a private placement of 93,497,140 common shares announced by Lundin Gold Inc. ("Lundin Gold") (TSX: LUG, Nasdaq Stockholm: LUG) on February 25, 2018, Zebra has agreed to acquire 8,083,141 common shares of Lundin Gold and Lorito has agreed to acquire 3,464,203 common shares of Lundin Gold, in each case at a price of US$4.33 per common share.

Zebra currently owns 30,911,441 (25.83%) common shares of Lundin Gold and Lorito currently owns 5,009,167 (4.19%) common shares of Lundin Gold and upon completion of the private placement Zebra will own 38,994,582 (18.29%) and Lorito will own 8,473,370 (3.98%) of the issued common shares of Lundin Gold. Collectively and as joint actors, Zebra and Lorito will own an aggregate of 47,467,952 (22.27%) of the issued common shares of Lundin Gold.

Lorito and Zebra are joint actors with respect to their common shares of Lundin Gold which will be acquired for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease their investment in the shares of Lundin Gold depending upon the business and prospects of Lundin Gold and depending upon future market conditions.

A copy of the Early Warning Report to be filed pursuant to National Instrument 62-103 may be obtained from Sandy Kansky, 1-604-806-3574.

SOURCE Zebra Holdings And Investments S.à.r.l.

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