On August 20, 2019, Avesoro Resources Inc. announced that it has received a non-binding expression of interest from its controlling shareholder, Avesoro Jersey Limited to acquire all of the issued and outstanding shares of the Company not already owned by AJL. The Company stated that it has established a special committee comprised of all of the independent directors of the Company and the special committee has a mandate to conduct a detailed review and analysis of the acquisition proposal and to identify and consider alternatives that may be available to the Company, with a view to determining whether it is in the best interests of the Company to support the acquisition proposal and the transaction contemplated therein.