Newmont Acquired GT Gold in Agreed All-Cash Transaction
|Areas||Mergers and Acquisitions|
GT Gold Corp. and Newmont Corporation (“Newmont”) are pleased to announce that they have entered into a binding agreement (the “Arrangement Agreement”), pursuant to which Newmont has agreed to acquire all of the outstanding shares of GT Gold that Newmont does not already own (the “Transaction”) for C$3.25 per share (the “Transaction Price”) in cash. The total equity value pursuant to the Transaction is approximately C$456 million on a fully diluted basis. The Transaction Price represents a premium of 38% to the 20-day volume-weighted average price of GT Gold’s shares on the TSX-V as at March 9, 2021. Goodmans LLP acted for GT Gold Corp.