On December 22, 2020, Angold Resources Ltd. completed the acquisition of Federal Gold Corp. by way of a reverse takeover, and will be listed on the TSX Venture Exchange under the ticker symbol “AAU” on December 31, 2020.
In connection with completion of the qualifying transaction, Federal Gold completed a private placement of 20,000,000 subscription receipts at a price of $0.40 per subscription receipt for gross proceeds of $8 million.
Cassels acted for Angold with a deal team that included Sam Cole, Jennifer Poirier and Sean Baraich (Securities and Mining).