On behalf of the Board of Megado Gold Limited (Company), I am pleased to present this Prospectus to
you and invite you to become a Shareholder of the Company.
The Company was incorporated on 8 March 2019 for the purpose of acquiring the rights to various
highly prospective gold projects in Ethiopia.
The Company’s assets consist of rights over five granted exploration licences covering an area of
and one licence application covering an area of approximately 227km2
(Projects). The Mormora, Dawa and Chakata projects are 100% owned or controlled by the Company,
whilst the Babicho andChochi projects are owned 80% in partnership with local Ethiopian investors.
The Dermi Dama Licence will be owned 100% by the Company once awarded.
Running in parallel with the proposed exploration and development of the Projects, the Company’s
ongoing strategy will also include the identification and acquisition of other gold projects in Ethiopia
The Company is fortunate to have two highly experienced executives with substantial experience in
Ethiopia and gold exploration and development. The Company’s CEO, Mr Michael Gumbley, has been
operating in Ethiopia and more broadly throughout Africa for over 15 years having successfully managed
deployment of over $500 million for infrastructure projects, and over the last seven years, $80m in
The Company’s Executive Director, Dr Chris Bowden, was based in Ethiopia for five years running a
team exploring for gold across the Nubian Shield. During this time, Dr Bowden and his team discovered
the Dish Mountain Gold Project in Ethiopia, a resource close to 2 million ounces of gold.
The purpose of the Offer is to raise $5,000,000 (before associated costs) by the issue of 25,000,000
Shares at an issue price of $0.20 each with a right to accept oversubscriptions of up to a further
5,000,000 Shares at an issue price of $0.20 to raise a further $1,000,000.
As detailed in Section 1.5 of this Prospectus, the proceeds of the Offer will be utilised to enable the
Company to fund mineral exploration activities on the projects highlighted in this Prospectus, and pay
administration costs, corporate overheads and costs of the Offer. In addition, the proceeds will assist
the Company to identify and acquire additional gold projects in Ethiopia where possible.
This Prospectus contains detailed information about the Offer and the current and proposed operations
of the Company, as well as the risks pertaining to an investment in the Company. Potential investors
in the Company should carefully consider those risks (detailed in Section 4).
We look forward to welcoming you as a Shareholder.