AUGUSTA GOLD ANNOUNCES ACQUISITION BY ANGLOGOLD ASHANTI FOR C$1.70 PER SHARE
Augusta Gold (OTCQB:AUGG) has announced a definitive merger agreement with AngloGold Ashanti, where AngloGold will acquire all of Augusta's outstanding shares for C$1.70 per share in cash. The transaction values Augusta at an enterprise value of approximately C$197 million, including C$152 million in equity value and C$45 million in stockholder loans repayment.
The offer represents a 28% premium to Augusta's closing price on July 15, 2025, and a 37% premium to the 20-day volume-weighted average price. The deal has received unanimous board approval and is supported by shareholders holding approximately 31.5% of Augusta's shares. The transaction is expected to close in Q4 2025, subject to stockholder approval and customary conditions.
[ "All-cash offer at C$1.70 per share, representing a 28% premium to last closing price", "Transaction valued at C$197 million enterprise value", "Immediate liquidity for shareholders without development and execution risks", "Strong support with 31.5% of shareholders already committed to the deal", "Transaction will be funded by AngloGold's existing cash, requiring no additional financing" ]Augusta Gold (OTCQB:AUGG) ha annunciato un accordo definitivo di fusione con AngloGold Ashanti, in cui AngloGold acquisirà tutte le azioni in circolazione di Augusta per 1,70 C$ per azione in contanti. L'operazione valuta Augusta con un valore aziendale di circa 197 milioni di C$, comprendendo 152 milioni di C$ di valore azionario e 45 milioni di C$ per il rimborso di prestiti agli azionisti.
L'offerta rappresenta un premio del 28% rispetto al prezzo di chiusura di Augusta del 15 luglio 2025 e un premio del 37% rispetto al prezzo medio ponderato per volume degli ultimi 20 giorni. L'accordo ha ricevuto l'approvazione unanime del consiglio di amministrazione ed è sostenuto da azionisti che detengono circa il 31,5% delle azioni di Augusta. La transazione è prevista per la chiusura nel quarto trimestre del 2025, soggetta all'approvazione degli azionisti e alle condizioni consuete.
- Offerta interamente in contanti a 1,70 C$ per azione, con un premio del 28% rispetto all'ultimo prezzo di chiusura
- Transazione valutata a 197 milioni di C$ di valore aziendale
- Liquidità immediata per gli azionisti senza rischi di sviluppo ed esecuzione
- Forte supporto con il 31,5% degli azionisti già impegnati nell'accordo
- La transazione sarà finanziata con la liquidità esistente di AngloGold, senza necessità di finanziamenti aggiuntivi
Augusta Gold (OTCQB:AUGG) ha anunciado un acuerdo definitivo de fusión con AngloGold Ashanti, mediante el cual AngloGold adquirirá todas las acciones en circulación de Augusta por 1,70 C$ por acción en efectivo. La transacción valora a Augusta en aproximadamente 197 millones de C$ de valor empresarial, incluyendo 152 millones de C$ en valor patrimonial y 45 millones de C$ para el pago de préstamos a accionistas.
La oferta representa una prima del 28% sobre el precio de cierre de Augusta al 15 de julio de 2025 y una prima del 37% sobre el precio promedio ponderado por volumen de 20 días. El acuerdo ha recibido la aprobación unánime de la junta directiva y cuenta con el respaldo de accionistas que poseen aproximadamente el 31,5% de las acciones de Augusta. Se espera que la transacción se cierre en el cuarto trimestre de 2025, sujeto a la aprobación de los accionistas y condiciones habituales.
- Oferta en efectivo total de 1,70 C$ por acción, representando una prima del 28% sobre el último precio de cierre
- Transacción valorada en 197 millones de C$ de valor empresarial
- Liquidez inmediata para los accionistas sin riesgos de desarrollo y ejecución
- Fuerte apoyo con el 31,5% de los accionistas ya comprometidos con el acuerdo
- La transacción será financiada con el efectivo existente de AngloGold, sin necesidad de financiamiento adicional
Augusta Gold (OTCQB:AUGG)는 AngloGold Ashanti와 최종 합병 계약을 발표했으며, AngloGold는 Augusta의 모든 발행 주식을 주당 1.70 캐나다 달러 현금에 인수할 예정입니다. 이번 거래는 약 1억 9700만 캐나다 달러의 기업 가치를 평가하며, 이 중 1억 5200만 캐나다 달러는 주식 가치, 4500만 캐나다 달러는 주주 대출 상환에 해당합니다.
이번 제안은 2025년 7월 15일 Augusta 종가 대비 28% 프리미엄이며, 20일 거래량 가중 평균 가격 대비 37% 프리미엄을 제공합니다. 이 거래는 이사회 전원 찬성을 받았으며, 약 31.5%의 주주가 지지를 표명했습니다. 거래는 주주 승인 및 일반적인 조건 충족을 전제로 2025년 4분기에 완료될 예정입니다.
- 주당 1.70 캐나다 달러 전액 현금 제안, 마지막 종가 대비 28% 프리미엄
- 기업 가치 약 1억 9700만 캐나다 달러 평가
- 개발 및 실행 위험 없이 주주에게 즉각적인 유동성 제공
- 31.5% 주주가 이미 거래에 동의하며 강력한 지지 확보
- AngloGold의 기존 현금으로 거래 자금 조달, 추가 자금 조달 불필요
Augusta Gold (OTCQB:AUGG) a annoncé un accord définitif de fusion avec AngloGold Ashanti, dans lequel AngloGold acquerra toutes les actions en circulation d'Augusta pour 1,70 C$ par action en espèces. La transaction valorise Augusta à une valeur d'entreprise d'environ 197 millions de C$, incluant 152 millions de C$ en valeur des capitaux propres et 45 millions de C$ pour le remboursement des prêts aux actionnaires.
L'offre représente une prime de 28% par rapport au cours de clôture d'Augusta au 15 juillet 2025 et une prime de 37% par rapport au prix moyen pondéré par volume sur 20 jours. L'accord a reçu l'approbation unanime du conseil d'administration et est soutenu par des actionnaires détenant environ 31,5% des actions d'Augusta. La transaction devrait se clôturer au 4e trimestre 2025, sous réserve de l'approbation des actionnaires et des conditions habituelles.
- Offre entièrement en espèces à 1,70 C$ par action, représentant une prime de 28% par rapport au dernier cours de clôture
- Transaction valorisée à 197 millions de C$ de valeur d'entreprise
- Liquidité immédiate pour les actionnaires sans risques de développement et d'exécution
- Fort soutien avec 31,5% des actionnaires déjà engagés dans l'accord
- La transaction sera financée par la trésorerie existante d'AngloGold, sans besoin de financement supplémentaire
Augusta Gold (OTCQB:AUGG) hat eine endgültige Fusionsvereinbarung mit AngloGold Ashanti bekannt gegeben, bei der AngloGold alle ausstehenden Aktien von Augusta für 1,70 C$ pro Aktie in bar übernehmen wird. Die Transaktion bewertet Augusta mit einem Unternehmenswert von etwa 197 Millionen C$, einschließlich 152 Millionen C$ Eigenkapitalwert und 45 Millionen C$ zur Rückzahlung von Aktionärsdarlehen.
Das Angebot stellt eine 28%ige Prämie gegenüber dem Schlusskurs von Augusta am 15. Juli 2025 dar und eine 37%ige Prämie gegenüber dem volumengewichteten Durchschnittspreis der letzten 20 Tage. Der Deal hat die einstimmige Zustimmung des Vorstands erhalten und wird von Aktionären unterstützt, die etwa 31,5% der Augusta-Aktien halten. Die Transaktion soll im 4. Quartal 2025 abgeschlossen werden, vorbehaltlich der Zustimmung der Aktionäre und üblicher Bedingungen.
- Barangebot von 1,70 C$ pro Aktie, was einer Prämie von 28% gegenüber dem letzten Schlusskurs entspricht
- Transaktion mit einem Unternehmenswert von 197 Millionen C$ bewertet
- Unmittelbare Liquidität für Aktionäre ohne Entwicklungs- und Ausführungsrisiken
- Starke Unterstützung durch bereits 31,5% der Aktionäre, die dem Deal zugestimmt haben
- Die Transaktion wird mit dem bestehenden Bargeld von AngloGold finanziert, ohne zusätzliche Finanzierung
- None.
- Augusta Gold will be delisted from public markets post-acquisition
- Shareholders will lose exposure to potential upside from the Reward Project
- Early exit prevents shareholders from participating in potential future growth
Benefits to Augusta Gold Stockholders
- The Price represents a premium of approximately
28% to the closing price of the Company's common stock on the Toronto Stock Exchange ("TSX") on July 15, 2025, the last trading day prior to the announcement of the Transaction and approximately37% to the volume-weighted average share price on the TSX over the 20 trading days prior to such date. - All-cash consideration provides immediate liquidity to Augusta Gold stockholders.
- Offer has minimal conditions, will be funded by AngloGold Ashanti's existing cash on hand, and is not subject to AngloGold Ashanti stockholder approval.
- The Transaction removes future dilution, commodity price, development, and execution risk.
- AngloGold Ashanti is a highly credible and capable counterparty with an established track record of successful M&A.
Richard Warke, Executive Chairman of Augusta Gold, commented, "The offer from AngloGold Ashanti represents a compelling offer to stockholders, locking in a meaningful premium and immediate liquidity as compared to waiting for the Reward Project to commence construction and then produce by mid-2027. Constructing the Reward Project would require additional dilution to raise the required equity, substantial time for construction, and time to get the mine operating at capacity. Taking the foregoing factors into consideration, I believe that the offer from AngloGold Ashanti represents a clearly superior path forward for stockholders."
The Transaction is expected to close in the fourth quarter of 2025, subject to the satisfaction of customary closing conditions, including the approval of the holders of a majority of the outstanding shares of Augusta Gold common stock, as well as a majority of the votes cast by holders of outstanding shares of Augusta Gold common stock, excluding certain related parties required to be excluded in accordance with Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (the "Related Parties"), at a stockholder meeting expected to be held in the fourth quarter of 2025. Pursuant to the Transaction, Augusta Gold will become an indirect wholly-owned subsidiary of AngloGold Ashanti and Augusta Gold's shares of common stock will no longer be publicly traded on any market.
The Augusta Board unanimously approved and recommends that Augusta Gold's stockholders approve and adopt the Agreement and the Transaction. Prior to the Augusta Board approval, the audit committee of the Augusta Board reviewed and recommended that the Augusta Board approve the Agreement and the Transaction. All directors and certain executive officers of Augusta Gold, as well as Augusta Investments Inc., holding, in aggregate, approximately
National Bank Financial Inc. provided a fairness opinion to the Augusta Board dated July 15, 2025, stating that, as of the date of such opinion and based upon and subject to the assumptions, limitations and qualifications stated in such opinion, the consideration to be received by Augusta Gold stockholders under the Transaction is fair, from a financial point of view, to such Augusta Gold stockholders, other than the Related Parties.
Pursuant to the Transaction, all Augusta Gold warrants that are in-the-money and outstanding at the effective time of the Transaction will be cancelled and settled for their in-the-money value, if any.
This communication is being made in respect of the Transaction involving Augusta Gold and AngloGold Ashanti. In connection with the Transaction, Augusta Gold intends to file relevant materials with the
Full details of the Transaction and the Agreement will be included in the Company's proxy statement/information circular, which will be mailed to Augusta Gold stockholders and made available on SEDAR+ and EDGAR under the issuer profile of the Company.
Additional Information About the Proposed Transaction and Where to Find it
This communication is not a substitute for the proxy statement/information circular or any other document that Augusta Gold may file with the SEC or Canadian securities regulators or send to the stockholders in connection with the Transaction. The materials to be filed by Augusta Gold will be made available to Augusta Gold's investors and stockholders at no expense to them and copies may be obtained free of charge on Augusta Gold's website at www.augustagold.com. In addition, all of those materials will be available at no charge on the SEC's website at www.sec.gov and on SEDAR+. INVESTORS AND STOCKHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/INFORMATION CIRCULAR AND OTHER MATERIALS FILED WITH THE SEC OR CANADIAN SECURITIES REGULATORS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE TRANSACTION, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT AUGUSTA GOLD, THE TRANSACTION, AND RELATED MATTERS.
Participants in the Solicitation
Augusta Gold and its directors, executive officers, other members of its management and employees may be deemed to be participants in the solicitation of proxies of Augusta Gold stockholders in connection with the Transaction under SEC rules. Investors and stockholders may obtain more detailed information regarding the names, affiliations and interests of Augusta Gold's executive officers and directors in the solicitation by reading the Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed on March 18, 2025, with the SEC and Canadian securities regulators, and the proxy statement/information circular and other relevant materials that will be filed with the SEC and Canadian securities regulators in connection with the Transaction when they become available. To the extent holdings of Augusta Gold's securities by their respective directors or executive officers have changed since the amounts set forth in such Form 10-K for the fiscal year ended December 31, 2024, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC, including the Form 4 filed by Richard Warke on March 13, 2025. Information concerning the interests of Augusta Gold's participants in the solicitation, which may, in some cases, be different than those of the Augusta Gold's stockholders generally, will be set forth in the proxy statement/information circular relating to the proposed Transaction when it becomes available.
Advisors and Counsel
National Bank Financial Inc. is acting as financial advisor to Augusta Gold. Dorsey & Whitney LLP and Cassels Brock & Blackwell LLP are acting as legal counsel to Augusta Gold in
About Augusta Gold
Augusta Gold is an exploration and development company focused on its Reward and Bullfrog gold projects located in the prolific Bullfrog mining district approximately 120 miles north-west of
Forward Looking Statements
Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including statements with respect to the benefits of the Transaction to Augusta Gold stockholders, the anticipated meeting date and mailing of the proxy statement/information circular to stockholders, timing for the completion of the Transaction, receiving the required stockholder approvals of the Transaction and regulatory approvals. When used in this news release words such as "to be", "will", "planned", "expected", "potential", "anticipated" and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including risks that the conditions to the Transaction will not be achieved in a timely manner, if at all, the ability to obtain requisite regulatory and stockholder approvals and the satisfaction of other conditions to the consummation of the proposed Transaction on the proposed terms and schedule; potential impact of the announcement or consummation of the proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in applicable laws; the diversion of management time on the proposed Transaction; the possibility that competing offers may be made, and the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators and the United States Securities and Exchange Commission. Such forward-looking statements are based on various assumptions, including assumptions made with regard to general business and economic conditions, metals prices, the timely receipt of necessary approvals, the Company's ability to comply with the terms and conditions of the Agreement, and no unplanned delays or interruptions. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward- looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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SOURCE Augusta Gold Corp.
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