Wesdome Gold Mines To Buy Angus Gold

(RTTNews) - Wesdome Gold Mines Ltd. (WDO.TO) on Monday said it has agreed to buy Angus Gold Inc.

Under the terms, each of the issued and outstanding common shares of Angus that Wesdome does not currently own will be exchanged for $0.62 cash plus 0.0096 of a Wesdome share, representing an aggregate value of $0.77 per Angus common share.

The offer represents a premium of 59% to Angus' 20-day volume-weighted average price ending April 4, 2025. Wesdome currently owns 6.3 million common shares of Angus and 3.15 million common share purchase warrants, or approximately 10.4% of Angus' basic common shares outstanding and 14.9% on a partially diluted basis. The enterprise value to Wesdome, net of Angus's cash, is approximately $40 million.

Anthea Bath, President and CEO of Wesdome, commented, "This is a highly logical and strategic tuck-in transaction that brings together a contiguous land package between the Eagle River mine and mill, enhancing our ability to unlock value through the drill bit. It reinforces our belief in the geological potential of the Mishibishu Lake greenstone belt, aligns with our focus on regional consolidation, and positions us to deliver sustainable, long-term growth supported by our strong balance sheet and existing infrastructure."