All amounts are expressed in Canadian dollars unless otherwise indicated
TORONTO, June 27, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) ("Wesdome" or the "Company") and Angus Gold Inc. (TSX-V: GUS, OTC: ANGVF) ("Angus") are pleased to announce the successful acquisition by Wesdome of all of the issued and outstanding common shares of Angus not already owned by Wesdome pursuant to a plan of arrangement (the "Arrangement"). The Arrangement became effective as of today's date, resulting in Angus becoming a wholly owned subsidiary of Wesdome. In accordance with the terms of the Arrangement, former Angus shareholders, excluding Wesdome, have received $0.62 in cash plus 0.0096 of a Wesdome share for each Angus common share previously held.
"The acquisition of the prospective Angus property adjacent to our Eagle River Mine represents an exciting addition to our portfolio, enhancing our long-term growth potential through greenfield opportunities," said Anthea Bath, President and Chief Executive Officer. "This regional land package consolidation supports our disciplined growth strategy, and we're pleased to welcome key members of the Angus team as we work to unlock meaningful value for our shareholders."
About Wesdome
Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d'Or, Québec. The Company's primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a growing value-driven gold producer.
| Contacts | |
| Raj Gill | Trish Moran |
| Interim Chief Financial Officer | Vice President, Investor Relations |
| Phone: +1.416.360.3743 | Phone: +1.416.564.4290 |
| E-Mail: invest@wesdome.com | E-mail: trish.moran@wesdome.com |
Forward-Looking Statements
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial and operating performance of Wesdome and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Wesdome to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Wesdome disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements or information contained in this press release include, but are not limited to, statements or information with respect to: (i) expectations for the effects of the Arrangement or the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays, (ii) the potential benefits and synergies of the Arrangement, and (iii) expectations for other economic, business, and/or competitive factors.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors including those risk factors discussed in the sections titled "Cautionary Note Regarding Forward Looking Information" and "Risks and Uncertainties" in Wesdome's most recent Annual Information Form. Readers are urged to carefully review the detailed risk discussion in Wesdome's most recent Annual Information Form which is available on SEDAR+ (www.sedarplus.ca).
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