Company: GNTOF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001062993-25-008252
Chunk: 8

Company: GENTOR RESOURCES INC.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 8
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Item 4. Information on the Company

A. History and Development of the Company

Gentor Resources Inc. is a company continued under theCompanies Law (2011 Revision)of the Cayman Islands on February 28, 2012. The executive office of the Company is located at 4120 Yonge Street, Suite 304, Toronto, Ontario, M2P 2B8, Canada, the telephone number of such office is (416) 361-2510, and the registered office of the Company is located at Highvern Cayman Limited, Elgin Court, Elgin Avenue, George Town, Grand Cayman, KY1-1106, Cayman Islands.

In March 2010, the Company completed the acquisition of all of the outstanding shares of APM Mining Limited (which subsequently changed its name to Gentor Resources Limited) ("Oman Holdco"), a British Virgin Islands company, in exchange for the issuance by the Company of a total of 1,295,250 common shares. In connection with this acquisition, the Company issued an additional 312,500 common shares pursuant to an amendment to the earn-in agreement between Al Fairuz Mining Company, LLC and Oman Holdco (the "Block 5 Earn-In Agreement"), which increased from 50% to 65% the equity interest in Al Fairuz Mining Company, LLC that Oman Holdco had the right to earn. Also in connection with the acquisition of Oman Holdco, the Company reconstituted its board of directors and appointed new officers.

As a result of the acquisition of Oman Holdco, the Company, through Oman Holdco, acquired the earn-in rights to the Block 5 and Block 6 properties in Oman. Al Fairuz Mining Company, LLC held the exploration licence for the Block 5 property. Pursuant to the Block 5 Earn-In Agreement, the Company, through Oman Holdco, acquired a 65% equity position in Al Fairuz Mining Company, LLC. Pursuant to an earn-in agreement between Al Zuhra Mining Company, LLC and Oman Holdco, the Company, through Oman Holdco, had the right to earn up to a 70% equity position in Al Zuhra Mining Company, LLC, which held the exploration licence for the Block 6 property.

In April 2010, the Company completed a private placement financing for total gross proceeds of US$2,000,000.

In July 2010, Gentor commenced an initial 3,000 metre drilling program