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January 18, 2022
Corvus Gold and AngloGold Ashanti Announce Completion of Acquisition of Corvus by AngloGold Ashanti
Johannesburg, South Africa and Vancouver, B.C. – AngloGold Ashanti Limited (“AngloGold Ashanti”) (JSE:
ANG, NYSE: AU) and Corvus Gold Inc. (“Corvus” or the “Company”) (TSX: KOR, NASDAQ: KOR) are pleased
to announce the successful completion of the previously announced plan of arrangement under the Business
Corporations Act (British Columbia) (the “Arrangement”) between Corvus, 1323606 B.C. Unlimited Liability
Company (the “Purchaser”) and AngloGold Ashanti Holdings plc (the “Guarantor”). The Purchaser is an
indirect wholly owned subsidiary of AngloGold Ashanti and the Guarantor is a direct wholly owned subsidiary
of AngloGold Ashanti. Pursuant to the arrangement agreement, dated as of September 13, 2021, by and
among Corvus, the Purchaser and the Guarantor, the Purchaser, among other things, acquired the remaining
80.5% of the outstanding common shares of Corvus (the “Corvus Shares”) not already owned by AngloGold
Ashanti and its affiliates (collectively, the “AGA Group”).
As previously announced, the Arrangement was overwhelmingly approved by Corvus shareholders and
optionholders at a special meeting held on January 6, 2022. On January 11, 2022, the Company obtained the
final order from the Supreme Court of British Columbia approving the Arrangement.
Under the terms of the Arrangement, shareholders of Corvus (other than the AGA Group) will receive C$4.10
in cash per Corvus Share.
Alberto Calderon, AngloGold Ashanti’s CEO and Executive Director said “The acquisition of Corvus provides
AngloGold Ashanti with compelling, district-wide consolidation in Nevada. The combination of Corvus’ assets
along with our own neighbouring targets, including Silicon, Merlin and Rhyolite, provides the opportunity for
the Beatty District to become a potential Tier 1 asset with first production in approximately the next three years.
We look forward to further engagement with local stakeholders as we develop the Beatty District.”
Jeffrey Pontius, President and CEO of Corvus, said “We are delighted to close the transaction with AngloGold
Ashanti, achieving our strategic goal for the Company of value creation for the Corvus shareholders. AngloGold
Ashanti’s long history of success and responsible exploration, development, mine building and operations will
further augment the exceptional discoveries at the North Bullfrog and Mother Lode projects. I would like to
thank the shareholders for their overwhelming support throughout the years and the whole team at Corvus.
Today is a culmination of a very successful journey at Corvus.”
As previously announced, AngloGold Ashanti intends to cause the amalgamated entity to delist its shares from
the Toronto Stock Exchange and has submitted applications to the relevant securities regulatory authorities in
Canada to cease to be a reporting issuer.
In connection with the closing of the Arrangement, in coordination with the Nasdaq Capital Market (the
“NASDAQ”), a Form 25 relating to the delisting of the amalgamated entity’s shares will be filed with the U.S.
Securities and Exchange Commission (the “SEC”) on January 18, 2022 and trading in the amalgamated
entity’s shares will be suspended on the NASDAQ on January 18, 2022. The amalgamated entity expects the
delisting of its shares to become effective 10 days following the filing, or January 28, 2022. The anticipated
effective date may be delayed if the SEC postpones the effectiveness of the application to delist for other
reasons. Concurrent with the delisting from Nasdaq, the amalgamated entity intends to file a Form 15 with the
SEC to terminate the registration of its shares under the U.S. Securities Exchange Act of 1934, as amended
(the “Exchange Act”) and to suspend its reporting obligations with the SEC under the Exchange Act. The
amalgamated entity expects that its obligation to file reports with the SEC will be suspended immediately upon
the filing of the Form 15. The amalgamated entity reserves the right to delay the filing of the Form 25 or Form
15 or withdraw either form for any reason prior to its effectiveness.
=============================================================================
DYOR
i hold AGG ( 'free-carried' )
Corvus Gold and AngloGold Ashanti Announce Completion of Acquisition of Corvus by AngloGold Ashanti
Johannesburg, South Africa and Vancouver, B.C. – AngloGold Ashanti Limited (“AngloGold Ashanti”) (JSE:
ANG, NYSE: AU) and Corvus Gold Inc. (“Corvus” or the “Company”) (TSX: KOR, NASDAQ: KOR) are pleased
to announce the successful completion of the previously announced plan of arrangement under the Business
Corporations Act (British Columbia) (the “Arrangement”) between Corvus, 1323606 B.C. Unlimited Liability
Company (the “Purchaser”) and AngloGold Ashanti Holdings plc (the “Guarantor”). The Purchaser is an
indirect wholly owned subsidiary of AngloGold Ashanti and the Guarantor is a direct wholly owned subsidiary
of AngloGold Ashanti. Pursuant to the arrangement agreement, dated as of September 13, 2021, by and
among Corvus, the Purchaser and the Guarantor, the Purchaser, among other things, acquired the remaining
80.5% of the outstanding common shares of Corvus (the “Corvus Shares”) not already owned by AngloGold
Ashanti and its affiliates (collectively, the “AGA Group”).
As previously announced, the Arrangement was overwhelmingly approved by Corvus shareholders and
optionholders at a special meeting held on January 6, 2022. On January 11, 2022, the Company obtained the
final order from the Supreme Court of British Columbia approving the Arrangement.
Under the terms of the Arrangement, shareholders of Corvus (other than the AGA Group) will receive C$4.10
in cash per Corvus Share.
Alberto Calderon, AngloGold Ashanti’s CEO and Executive Director said “The acquisition of Corvus provides
AngloGold Ashanti with compelling, district-wide consolidation in Nevada. The combination of Corvus’ assets
along with our own neighbouring targets, including Silicon, Merlin and Rhyolite, provides the opportunity for
the Beatty District to become a potential Tier 1 asset with first production in approximately the next three years.
We look forward to further engagement with local stakeholders as we develop the Beatty District.”
Jeffrey Pontius, President and CEO of Corvus, said “We are delighted to close the transaction with AngloGold
Ashanti, achieving our strategic goal for the Company of value creation for the Corvus shareholders. AngloGold
Ashanti’s long history of success and responsible exploration, development, mine building and operations will
further augment the exceptional discoveries at the North Bullfrog and Mother Lode projects. I would like to
thank the shareholders for their overwhelming support throughout the years and the whole team at Corvus.
Today is a culmination of a very successful journey at Corvus.”
As previously announced, AngloGold Ashanti intends to cause the amalgamated entity to delist its shares from
the Toronto Stock Exchange and has submitted applications to the relevant securities regulatory authorities in
Canada to cease to be a reporting issuer.
In connection with the closing of the Arrangement, in coordination with the Nasdaq Capital Market (the
“NASDAQ”), a Form 25 relating to the delisting of the amalgamated entity’s shares will be filed with the U.S.
Securities and Exchange Commission (the “SEC”) on January 18, 2022 and trading in the amalgamated
entity’s shares will be suspended on the NASDAQ on January 18, 2022. The amalgamated entity expects the
delisting of its shares to become effective 10 days following the filing, or January 28, 2022. The anticipated
effective date may be delayed if the SEC postpones the effectiveness of the application to delist for other
reasons. Concurrent with the delisting from Nasdaq, the amalgamated entity intends to file a Form 15 with the
SEC to terminate the registration of its shares under the U.S. Securities Exchange Act of 1934, as amended
(the “Exchange Act”) and to suspend its reporting obligations with the SEC under the Exchange Act. The
amalgamated entity expects that its obligation to file reports with the SEC will be suspended immediately upon
the filing of the Form 15. The amalgamated entity reserves the right to delay the filing of the Form 25 or Form
15 or withdraw either form for any reason prior to its effectiveness.
=============================================================================
DYOR
i hold AGG ( 'free-carried' )
