Corvus Gold Approved Acquisition of its Balance Shares by AngloGold Ashanti

SEATTLE (Scrap Monster): The shareholders and optionholdes of Corvus Gold Gold Inc. approved the acquisition of remaining shares of it by AngloGold Ashanti and its affiliates. The resolution to this effect was voted overwhelmingly by a special meeting held recently. Accordingly, the South Africa-headquartered global mining company will acquire the remaining 80.5% of the outstanding common shares of Corvus Gold.

As per company press release, the resolution was approved by approximately 99.45% of the Common Shares voted at the meeting. Approximately 99.52% of the Common Shares and Options voted at the Meeting approved it. Also, the resolution got approval of approximately 99.12% of the Common Shares voted at the Meeting, after excluding votes from certain shareholders, including the affiliates.

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Pursuant to this, Corvus will now apply for a final order of the Supreme Court of British Columbia for approval of the purchase deal. The closing of the transaction is subject to certain customary closing conditions, including obtaining the final order from the Supreme Court of British Columbia and is expected to close on or around January 18, 2022.

Upon completion of the transaction, the Corvus Common Shares will be delisted from the Toronto Stock Exchange and Nasdaq Capital Markets.

The deal is expected to help AngloGold Ashanti develop a low cost production base in the premier mining jurisdiction.