India, April 7 -- 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.
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