08:53 AM EDT, 06/27/2025 (MT Newswires) -- Great Quest Gold ( GQMLF ) said Friday that it signed a definitive agreement to acquire Lotus Gold in a reverse takeover deal.

Under the terms of the transaction first announced in May, the resulting issuer will be owned 63% by former Lotus shareholders and 37% by former Great Quest shareholders.

The arrangement will be subject to approvals from the TSXV and the Supreme Court of British Columbia. It also requires the greenlight of the directors and shareholders of Great Quest and Lotus.

Lotus owns 10 exploration sectors across the Egyptian Eastern Desert.