AngloGold Ashanti Signs Definitive Agreement to Acquire Corvus and Consolidate the Beatty District of Nevada
Corvus Gold Inc. - Common Shares (KOR)
Company Research
Source: GlobeNewswire
VANCOUVER, British Columbia, Sept. 13, 2021 (GLOBE NEWSWIRE) -- AngloGold Ashanti Limited (“AngloGold Ashanti”) and Corvus Gold Inc. (“Corvus”) are pleased to announce that they have entered into a definitive arrangement agreement pursuant to which AngloGold Ashanti has agreed to acquire the remaining 80.5% of common shares of Corvus not already owned by AngloGold Ashanti (the “Transaction”) at a price of C$4.10 per common share (the “Offer Price”) in cash. The total Transaction cost to AngloGold Ashanti is estimated to be approximately US$370 million. The Transaction implies a total equity value for all Corvus common shares and outstanding options to acquire common shares of approximately C$570 million (approximately US$450 million). The Offer Price represents a premium of approximately 26% to the closing price of Corvus common shares on the Toronto Stock Exchange (“TSX”) on 12 July 2021, the day prior to the announcement that AngloGold Ashanti submitted a non-binding proposal to
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