Contango Announces Acquisition of HighGold
Retrieved on:
Thursday, May 2, 2024
Natural Resources, Other Natural Resources, Mining, Minerals, LLP, Risk, Par value, Blake, Cassels & Graydon, Contango, Partnership, Transaction, EST, Holland & Knight, Meeting, News, Gold, VWAP, Agreement, CIRI, Native, Alaska Native corporation, National instrument, PST, Organization, OTCQX, DSO, Senior, 100.9 ZZZ FM, Regulation, Growth
Under the terms of the Agreement, each HighGold share (“HighGold Share”) will be exchanged for 0.019 shares of Contango common stock (each whole share, a “Contango Share”) (the “Exchange Ratio”) based on the respective volume weighted average price (“VWAP”) of Contango for the five-day period ending on May 1, 2024.
Key Points:
- Under the terms of the Agreement, each HighGold share (“HighGold Share”) will be exchanged for 0.019 shares of Contango common stock (each whole share, a “Contango Share”) (the “Exchange Ratio”) based on the respective volume weighted average price (“VWAP”) of Contango for the five-day period ending on May 1, 2024.
- Upon completion of the Transaction, existing Contango shareholders will own approximately 85% and HighGold shareholders will own approximately 15% of the combined company3.
- In connection with the Transaction, Contango will grant to HighGold the right to appoint one (1) director to its board of directors.
- Participants may join the webcast using the following call-in details: Contango ORE Announces Acquisition of HighGold (6ix.com)
Creation of a leading Alaskan gold company with a low-risk and properly sequenced portfolio – Manh Choh is Alaska’s next gold mine with first gold pour expected in the second half of 2024.