Kuala lumpur: VCI Global Limited (NASDAQ: VCIG) ('VCI Global' or the 'Company'), today announced that it has entered a binding term sheet in relation to a proposed strategic investment in a gold mining asset located within an established gold-producing region in Brazil.

According to BERNAMA News Agency, the asset is estimated to contain approximately 59.9 tonnes of gold resources, equivalent to about 1.9 million ounces, based on preliminary technical information provided to the Company. This estimate is preliminary and subject to further technical validation, independent verification, and compliance with applicable mineral resource reporting standards.

The strategic investment marks a significant move by VCI Global to integrate physical gold into its Real World Asset (RWA) and digital asset treasury strategy, highlighting the Company's commitment to expanding its asset portfolio and enhancing its business operations. The move is expected to position VCI Global favorably in the growing gold market, particularly in a region with a robust history of gold production.

As VCI Global proceeds with this investment, it will focus on the necessary steps to ensure thorough technical and regulatory compliance. The Company's decision to invest in this Brazilian gold asset underscores its strategic direction toward leveraging valuable resources and tapping into the potential growth offered by physical and digital asset integration.