On September 13, 2021, AngloGold Ashanti Limited (“AGA”) and Corvus Gold Inc. entered into a definitive agreement, pursuant to which AGA has agreed to acquire the remaining 80.5% of common shares of Corvus not already owned by AGA at a price of $4.10 per common share in cash. The total transaction cost to AGA is estimated to be approximately US$370 million. Outstanding options will be cashed out based on the “in the money” amount. The transaction implies a total equity value for all outstanding Corvus common shares and outstanding options of approximately C$570 million (approximately US$450 million).
Cassels is acting for Corvus.