Wesdome Gold Mines finalizes acquisition of Angus Gold
Wesdome Gold Mines Ltd. [TSX: WDO; OTCQX: WDOFF] and Angus Gold Inc. [TSXV: GUS; OTC: ANGVF] reported the successful acquisition by Wesdome of all of the issued and outstanding common shares of Angus not already owned by Wesdome under a plan of arrangement. The arrangement became effective as of today’s date, resulting in Angus becoming a wholly owned subsidiary of Wesdome. In accordance with the terms of the arrangement, former Angus shareholders, excluding Wesdome, have received $0.62 in cash plus 0.0096 of a Wesdome share for each Angus common share previously held.
“The acquisition of the prospective Angus property adjacent to our Eagle River Mine represents an exciting addition to our portfolio, enhancing our long-term growth potential through greenfield opportunities,” said Anthea Bath, President and CEO. “This regional land package consolidation supports our disciplined growth strategy, and we’re pleased to welcome key members of the Angus team as we work to unlock meaningful value for our shareholders.”
Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec.