TORONTO, June 20, 2025 (GLOBE NEWSWIRE) -- Angus Gold Inc. (TSX-V: GUS, OTC: ANGVF) (“Angus” or the “Company”) is pleased to announce that its shareholders (the “Shareholders”) have approved the resolution required to consummate the previously announced statutory arrangement under the Business Corporations Act (Ontario) (the “Transaction”) with Wesdome Gold Mines Ltd. (“Wesdome”). At Angus’ special meeting of Shareholders held on June 19, 2025 (the “Meeting”), the resolutions supporting the Transaction were approved by approximately 99.8% of the votes cast by Shareholders present or represented by proxy at the Meeting.
Voting Results
The following is a detailed breakdown of the voting results of the Meeting:
Shareholder vote:
| Total Common Share Eligible to be Voted | 60,331,050 | |
| Common Shares Voted Total (%) | 43,241,013 (71.67%) | |
| Total Shares Voted FOR Arrangement Resolution | 43,172,113 | |
| Percent of Shares Voted FOR Arrangement Resolution | 99.84% | |
Shareholder vote, excluding votes attached to shares held by Wesdome, Patrick Langlois and Dennis Peterson which are required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions:
| Total Common Share Eligible to be Voted | 48,656,050(1) | |
| Common Shares Voted Total (%) | 31,566,013 (64.88%) | |
| Total Shares Voted FOR Arrangement Resolution | 31,497,113 | |
| Percent of Shares Voted FOR Arrangement Resolution | 99.78% | |
Note:
(1) For more information on excluded votes, refer to the Company’s press release dated June 2, 2025.
Anticipated Timeline for Completion of the Transaction
With Shareholder approval, Angus will seek a final order from the Ontario Superior Court of Justice (“Court”) to approve the plan of arrangement expected to be held on June 25, 2025. The Transaction remains subject to final court approval and the satisfaction of certain other customary closing conditions for transactions of this nature. The Transaction is expected to close on or about June 27, 2025.
At closing, each Angus Shareholder (other than any dissenting Angus Shareholders and Wesdome) will receive 0.0096 of a Wesdome common share and $0.62 in cash for each Angus common share held. Following the completion of the Transaction at the end of June, Angus will become a wholly-owned subsidiary of Wesdome.
Further Information
For further information regarding the Transaction, please refer to the management information circular dated May 7, 2025, which is filed under the Company’s profile on SEDAR+ (www.sedarplus.ca).
About Angus Gold
Angus is a Canadian mineral exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company’s flagship project, which is the Golden Sky Project near Wawa, Ontario, is situated immediately adjacent to Wesdome’s Eagle River mine.
| Contacts | ||
| Breanne Beh | Lindsay Dunlop | |
| President and CEO | Vice President, Investor Relations | |
| Phone: +1.807.356.6330 | Phone: +1.647.259.1790 | |
| Email: This email address is being protected from spambots. You need JavaScript enabled to view it. | Email: This email address is being protected from spambots. You need JavaScript enabled to view it. |
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 the Company 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 the Company 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 the Company 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) the consummation and timing of the Transaction, (ii) the satisfaction of the conditions precedent to the Transaction, (iii) expectations regarding the timing, receipt and anticipated effects of court approval and other consents and approvals (including receipt of all applicable stock exchange approvals), (iv) the impact of the Transaction on Angus, Wesdome and their respective shareholders and other stakeholders, and (v) 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 the Company’s most recent Annual Information Form. Readers are urged to carefully review the detailed risk discussion in our most recent Annual Information Form which is available on SEDAR+ and on the Company’s website.
