AngloGold Ashanti announced on July 15, 2025, that it had reached a definitive agreement to acquire Augusta Gold Corp. for C$1.70 per share in cash, valuing the transaction at about C$152 million (US$111 million). The acquisition includes Augusta Gold’s Beatty District properties in Nevada, such as the Reward project and Bullfrog deposit, which are adjacent to AngloGold’s existing assets. This move aims to strengthen AngloGold’s position in one of North America’s leading gold districts. The deal also covers repayment of approximately US$32.6 million in stockholder loans as of March 31, 2025.

The transaction represented a 28 percent premium over Augusta’s closing share price on July 15, 2025, and a 37% premium over the 20-day volume-weighted average price. Augusta Gold shareholders approved the acquisition at a special meeting on October 20, 2025, and completion was announced on October 23, 2025. As a result, Augusta Gold became a wholly-owned subsidiary of AngloGold Ashanti, and its shares are being delisted from the Toronto Stock Exchange and OTCQB. Augusta Gold is also taking steps to cease being a reporting issuer in Canada and the United States, including filing a Form 15 with the SEC to suspend its reporting obligations.

Legal advisers for AngloGold Ashanti were Womble Bond Dickinson, Cravath, Swaine & Moore LLP, and Stikeman Elliott LLP. Dorsey & Whitney LLP and Cassels Brock & Blackwell LLP acted as legal advisers for Augusta Gold.