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Avidian Gold To Sell Its Alaskan Subsidiary To Contango Ore

Avidian Gold To Sell Its Alaskan Subsidiary To Contango Ore

Avidian Gold 将其阿拉斯加子公司出售给 Contango Ore
GlobeNewswire ·  05/02 19:00

TORONTO, May 02, 2024 (GLOBE NEWSWIRE) -- Avidian Gold Corp. ("Avidian" or the "Company") (TSX-V: AVG) is pleased to announce that it has entered into a binding Stock Purchase Agreement (the "Agreement") with Contango ORE, Inc. ("Contango") (NYSE-A: CTGO) pursuant to which Contango has agreed to purchase Avidian's 100% owned Alaskan subsidiary, Avidian Gold Alaska Inc. ("Avidian Alaska") for initial consideration of US$2.4 million (CDN$3.30 million), plus a potential future upside consideration of US$1.0 million, for a total consideration of up to US$3.4 million (CDN$4.68 million at current exchange rate of US$1 = CDN$1.376) (the "Transaction"). The consideration is a combination of cash plus Contango shares, as more fully described below.

2024年5月2日多伦多(GLOBE NEWSWIRE)——Avidian Gold Corp.(以下简称“公司”)(TSX-V: AVG)非常高兴地宣布,已与Contango ORE,Inc. (NYSE-A: CTGO)签署了有约束力的股票购买协议(以下简称“协议”),根据该协议,Contango同意以2,400,000美元(加元3.30万)的初始价格,加上1,000,000美元的潜在未来上涨价格,支付代表Avidian Gold Alaska Inc.(以下简称“Avidian Alaska”)的100%股权(以下简称“交易”)。此交易将以现金与Contango股票的组合支付方式进行,详见下文。总价值高达3,400万美元(CDN$4.68万,按照1美元等于CDN$1.376的汇率计算)。

Avidian Alaska owns and controls the Golden Zone and Amanita NE gold properties and has an option agreement to purchase 100% of the Amanita gold property. Golden Zone is a large, prospective property in between Anchorage and Fairbanks near rail and highway infrastructure. The Amanita and Amanita NE gold properties border Kinross Gold Corporation's Fort Knox operation near Fairbanks.

Avidian Alaska拥有并控制着Golden Zone和Amanita NE金矿物业,并具有购买Amanita金矿物业100%股权协议。Golden Zone是一块潜力巨大的地产,位于安克雷奇和费尔班克斯之间,靠近铁路和公路基础设施。Amanita和Amanita NE金矿物业与金罗斯黄金公司在费尔班克斯附近的Fort Knox项目接壤。

Dino Titaro, Director and Chairman of Avidian Gold states, "On behalf of the Board of Directors, we are pleased to announce this transaction. We believe Avidian is well served by both the cash consideration to immediately strengthen its balance sheet and the Contango shares to better participate in the continued strength in the gold price. Contango is a soon to be producer of gold that is expected to be generating cash flow by mid to late 2024 from the high grade Manh Choh Gold Deposit, a 70:30 joint venture between Kinross Gold Corporation and Contango. Contango has the financial and technical strength to quickly advance these properties. We are of the opinion that this acquisition will enhance their future production growth strategy, which Avidian will participate in and greatly benefit from its share ownership.

Avidian Gold董事长Dino Titaro表示:“我们很高兴宣布这项交易。我们认为,现金结算和Contango股票的结合将更好地参与黄金价格持续走强,这对Avidian很有帮助。Contango即将成为金属生产商,预计从金罗斯黄金和Contango组成的70:30合资企业Manh Choh Gold Deposit项目于2024年中后期开始产生现金流。Contango具有快速提升这些项目的资金和技术实力。我们认为此项收购将增强他们未来的产量增长策略,Avidian将参与其中,从其股份持有中获益。”在董事会的代表中,我们很高兴地宣布这项交易。我们认为,现金结算和Contango股份结合起来,可以更好地参与黄金价格的持续上涨。Contango即将成为金属生产商,预计从金罗斯黄金和Contango组成的70:30合资企业Manh Choh Gold Deposit项目于2024年中后期开始产生现金流。Contango具有快速提升这些项目的资金和技术实力。我们认为此项收购将增强他们未来的产量增长策略,Avidian将参与其中,从其股份持有中获益。

This transaction is a win-win, particularly considering the current market investment climate for non-producing junior exploration companies like Avidian. We believe the Alaska properties will generate more value in Contango's portfolio as a near term producer, as evidenced by Contango's acquisition of these properties for a purchase price plus a future potential upside payment that well exceeded Avidian's market capitalization at the time of negotiations, up to CDN$4.68 million vs a then market capitalization of less than CDN$2.0 million. This at a time where Avidian and most other junior explorers have not benefited by improving gold prices and have not been able to raise the suitable equity to adequately advance exploration.

这笔交易是双赢的,特别是考虑到像Avidian这样的非生产初级勘探公司的当前市场投资环境。我们认为,由于Contango的收购价格以及更高的付款潜在前景,阿拉斯加物业将在Contango的投资组合中产生更多价值,这超过了Avidian在协商时的市值,高达CDN$4.68万,而当时的市值还不到CDN$2.0万。这个时候,Avidian和大多数其他初级勘探公司并没有受益于不断上涨的黄金价格,也没有能够筹集适当的股权来充分推进勘探。

At the conclusion of this transaction, should Shareholders approve, Avidian will be debt free with a clean balance sheet and will hold cash plus marketable securities, at current equity prices, on the order of CDN$3.0 million dollars, excluding the potential future upside payment on a production decision of US$1.0 million. Avidian will then focus on a value creation strategy for its 100% owned Jungo gold-copper project in Nevada and continue ongoing evaluation of a number of possible strategic opportunities/alternatives that could be transformational for the Company."

交易结束后,如果股东批准,Avidian将成为无债务且负有可变现姿态的公司,持有现金和有市场价值的证券,当前价格为CDN$3.0万美元,此交易的生产决策潜在上涨将另外支付100万美元的付款, 不包括生产决策的潜在未来上涨的付款,其金额为1,000,000美元,. 此后,Avidian将专注于其在内华达州的100%公司拥有的Jungo金铜项目的价值创造策略,并继续对可能具有变革性的公司战略机会/替代方法进行评估。"

Transaction Details

交易详情

  1. Contango to acquire 100% of the capital stock of Avidian Gold Alaska Inc. from Avidian Gold Corp.;
  2. Contango will pay Avidian an initial purchase price of US$2,400,000 consisting of (i) US$400,000 in cash (the "Cash Consideration") and (ii) US$2,000,000 in shares of Contango common stock (the ("Equity Consideration"). The Cash Consideration shall be paid in the following tranches: (i) a deposit US$50,000 (that has been received) (ii) US$150,000 due on the Closing Date, and (iii) US$200,000 due on or before the 6-month anniversary of the Closing Date. The number of shares of common stock constituting the Equity Consideration will be determined based on Contango's NYSE-A, 10-day volume-weighted average price immediately prior to the Closing Date;
  3. If Contango makes a positive production decision on either of the Amanita or Golden Zone properties within 120 months of the Closing Date, Contango will pay Avidian an additional US$1,000,000 within thirty (30) days of such decision (the "Deferred Purchase Price"). The Deferred Purchase Price can be paid in either cash or shares of Contango at Contango's sole discretion. If at any time prior to this production decision, within the 120-month period, Contango enters into a third party transaction on either of the Amanita or Golden Zone properties, Avidian will receive 20% of the consideration received by Contango (capped at US$500,000 per property), to be credited against the total Deferred Purchase Price; and
  4. The Transaction is subject to Avidian Shareholder approval, as well as the receipt of all required governmental and/or regulatory approvals, including that of the Toronto Venture Exchange and NYSE-A. Should Avidian Shareholders not approve this transaction the Agreement will terminate and a termination fee of US$175,000 will be paid to Contango, representing liquidated damages for the time, resources and opportunities lost in facilitating this transaction.
  1. Contango将从Avidian Gold Corp.手中收购Avidian Gold Alaska公司的全部股 equity权;
  2. Contango将向Avidian支付初始购买价格2,400,000美元,包括(i)现金价值40万美元(以下简称“现金支付”)和(ii) 2,000,000美元的Contango普通股(以下简称“股票支付”。现金支付将分期支付:(i) 50,000美元的存款(已收到) (ii)在交割日期之前的150,000美元 (iii)在交割日期之后的6个月内或在6个月纪念日之前的200,000美元,以Contango在交割日期前10天的NYSE-A成交量加权平均价格为基础,计算股票支付的股票数量如果Contango在交割日期120个月内对Amanita或Golden Zone物业做出积极的生产决策,则Contango将在30天内支付Avidian附加的1,000,000美元的费用,以下简称“延期付款”。Contango可以根据自己的意愿以现金或Contango的股票支付Deferred Purchase Price。在生产决策之前的任何时间,在120个月的期限内,如果Contango在Amanita或Golden Zone项目上进行了第三方交易,Avidian将获得Contango获得的报酬的20%(每个物业限额为50万美元),并将计入延期付款的总付款现金偿付,以Contango在交割日期前10天的NYSE-A成交量加权平均价格为基础,计算股票支付的股票数量股份支付
  3. 如果Contango在交割日期120个月内对Amanita或Golden Zone物业做出积极的生产决策,则Contango将在30天内支付Avidian附加的1,000,000美元的延期付款。Contango可以根据自己的意愿以现金或Contango的股票支付Deferred Purchase Price。在生产决策之前的任何时间,在120个月的期限内,如果Contango在Amanita或Golden Zone项目上进行了第三方交易,Avidian将获得Contango获得的报酬的20%(每个物业限额为50万美元),并将计入延期付款的总付款延期付款交易受Avidian的股东批准以及接到所有所需的政府和/或监管批准的限制,包括多伦多创业板和纽交所。如果Avidian的股东不批准这笔交易,该协议将终止,并且将向Contango支付175,000美元的终止费,作为为完成此交易所耗费的时间、资源和机会的代价。
  4. Avidian和Contango的董事会一致同意此交易。Avidian的董事会一致建议股东投票支持此交易。股东的年度股东大会和特别股东大会将于2024年7月4日举行。预计在股东会议批准交易后,此交易将尽快完成。

Both Avidian's and Contango's Board of Directors have unanimously approved the Transaction. The Board of Directors for Avidian unanimously recommends that shareholders vote in favor of the Transaction. The Annual General and Special Meeting of shareholders will be held on July 4, 2024. It is expected that closing of this Transaction will happen as soon as practically possible following the shareholder meeting that has approved the Transaction.

关于Contango ORE Inc.

About Contango ORE Inc.

Contango ORE, Inc. (NYSE-A: CTGO) owns a 30% interest in the high grade Manh Choh gold project located in Alaska, in partnership with a subsidiary of Kinross Gold Corporation ("Kinross"). Kinross acts as manager and operator. The Manh Choh project has received all Federal and State permits and mining operations are underway. Mining started at Manh Choh in August of 2023 with ore stockpiled at site. Transportation of the ore from Manh Choh to Kinross' existing Fort Knox mill complex located near Fairbanks, Alaska began in November 2023. Additional ore arrives daily to the stockpile at Fort Knox and first gold production is planned for the second half of 2024. Annual gold production is expected to be 225,000 ounces with 30%, or approximately 67,500 ounces, credited to Contango's account (see Technical Summary Report on the Manh Choh project, dated May 12, 2023 at ).

Contango ORE, Inc. (NYSE-A: CTGO)拥有位于阿拉斯加的高品位Manh Choh黄金项目的30%持股权,与Kinross Gold Corporation(“Kinross”)的子公司合作。 Kinross充当经理和运营商。 Manh Choh项目已获得联邦和州立许可,并已开始采矿。2023年8月,在Manh Choh开始采矿,矿石堆放在现场。从Manh Choh到Kinross现有的位于阿拉斯加费尔班克斯附近的Fort Knox矿山复合体的矿石运输于2023年11月开始。每天还有更多的矿石运往Fort Knox的矿石堆中,预计2024年下半年首次黄金生产。预计年黄金产量为225,000盎司,其中30%,或约67,500盎司将计入Contango的账户(请参见2023年5月12日Manh Choh项目的技术摘要报告)。

The use of the Fort Knox mill has accelerated the development of the Manh Choh project and resulted in meaningfully reduced environmental impact and upfront capital without the need for separate milling and tailings storage facilities in addition to a shorter permitting and development timeline with less overall risk for the Manh Choh project. In addition to Manh Choh, Peak Gold LLC, the 30/70 joint venture between Contango and Kinross, has had a mining lease since 2008 on 675,000 acres of private lands owned by the Tetlin Tribe and administered by the Tetlin Tribal Council, which offer excellent exploration potential.
Ore is currently being stockpiled at the Manh Choh site and transported by highway ore haul trucks to a stockpile area at the Fort Knox mill complex. A stockpile of approximately 250,000 tons is being built prior to the start of milling in mid 2024.

Fort Knox矿山的使用加速了Manh Choh项目的开发,大大降低了环境影响和前期资本,无需额外的铣削和尾矿存储设施,同时缩短了Manh Choh项目的许可和开发时间,为Manh Choh项目带来了较少的整体风险。除了Manh Choh外,Contango和Kinross之间的30/70合资企业Peak Gold LLC自2008年起就在Tetlin部落拥有私人土地的675,000英亩的开采许可,并由Tetlin Tribal Council管理,该部落拥有良好的勘探潜力。
目前正在Manh Choh工地上堆放矿石,并由高速公路矿运卡车将其运往Fort Knox矿山复合体的堆放区。在2024年中期开始铣削之前,正在建造约250,000吨的矿资源堆积物。

Contango also controls the Lucky Shot project near Anchorage, Alaska, and through its subsidiary, has 100% ownership of approximately 8,000 acres of peripheral State of Alaska mining claims. The Lucky Shot project is a past high-grade gold producer in which Contango has outlined an initial indicated mineral resource of 226,963 tonnes at 14.5 grams per tonne ("g/t") gold ("Au") and inferred mineral resource of 82,058 tonnes at 9.5 g/t Au (see Technical Summary Report on the Lucky Shot project, dated May 26, 2023 at ). Contango also owns a 100% interest in an additional 137,280 acres of State of Alaska mining claims through its wholly owned subsidiary, providing additional exploration potential.

Contango还控制着靠近阿尔卡洛克的Lucky Shot项目,并通过其子公司完全拥有大约8,000英亩的周边阿拉斯加国家矿业权。 Lucky Shot项目是过去的高品位黄金生产者,Contango已概述了其在该项目中初步指示的矿化资源。 14.5克/吨(“g / t”)金(“Au”)的226,963吨,及9.5g / t Au的82,058吨。 (请参见2023年5月26日Lucky Shot项目的技术摘要报告)。Contango还完全拥有另外137,280英亩的阿拉斯加国家矿业权,具有额外的勘探潜力。

For additional details see .

有关详细信息,请参见。

About Avidian Gold Corp.

关于Avidian Gold Corp。

Avidian brings a disciplined and veteran team of project managers together with a focus on advanced-stage gold exploration projects in Alaska. The Company's district-scale (over 40sqkm) Golden Zone property hosts a NI 43-101 Indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au) plus an Inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au) within the Breccia Pipe Deposit. This resource is exposed on the surface and was pit constrained for an open-pit mining scenario. The Technical Report was filed on November 17, 2017, and was authored by Leon McGarry, B.Sc., P.Geo. and Ian D. Trinder, M.Sc., P.Geo. Additional projects include the Amanita and the Amanita NE gold properties which are both adjacent to Kinross Gold's Fort Knox gold mine in Alaska, and the Jungo gold-copper property in Nevada.

Avidian将一支纪律严明的资深项目经理团队与专注于阿拉斯加的先进阶段黄金勘探项目相结合。该公司的区域规模(超过40平方公里)Golden Zone物业拥有43-101规定的267,400盎司金资源(黄金1.99克/吨,4,187,000吨)和推论性金矿资源(STANDARD BULLET) 35,900盎司(1,353,000吨,0.83 g/t Au)锥状可管金矿床。该资源暴露在地面上,并针对露天矿山开采进行了限制。技术报告于2017年11月17日提交,并由Leon McGarry,B.Sc.,P.Geo.和Ian D. Trinder,M.Sc.,P.Geo.编写。其他项目包括Amanita和Amanita NE金矿物业,二者均毗邻Kinross Gold在阿拉斯加的Fort Knox金矿,以及Nevada的Jungo金铜物业。

Avidian is a shareholder in High Tide Resources (CSE: HTRC), which is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social license from local communities. Avidian Gold controls approximately 28% of High Tide's outstanding shares. High Tide owns a 100% interest in the Labrador West Iron Project which hosts a NI 43-101 Inferred iron resource of 654.9 Mt @ 28.84% Fe and is located adjacent to the Iron Ore Company of Canada's ("IOCC") Carol Lake Mine in Labrador City, NL operated by Rio Tinto PLC. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The Technical Report was filed on SEDAR on April 6, 2023 and was authored by Ryan Kressall M.Sc., P. Geo, Matthew Herrington, M.Sc., P. Geo, Catharine Pelletier, P. Eng. and Jeffrey Cassoff P. Eng. The Company also owns a 100% interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Quebec.

Avidian是High Tide Resources(CSE:HTRC)的股东,该公司致力于使用行业最佳实践和当地社区的强大社会许可证开发对基础设施发展至关重要的矿产项目。Avidian Gold控制High Tide流通股的大约28%。High Tide拥有Labrador West Iron Project的100%股权,该项目拥有654.9 Mt @ 28.84% Fe的NI 43-101推论铁矿资源,且毗邻由Rio Tinto PLC运作的加拿大铁矿("IOCC") Carol Lake矿山 ,位于纽芬兰省拉布拉多城的实验室。这种资源暴露于表面,并针对露天矿山开采进行了限制。技术报告于2023年4月6日提交,由Ryan Kressall M.Sc.,P. Geo,Matthew Herrington,M.Sc.,P. Geo,Catharine Pelletier,P. Eng以及Jeffrey Cassoff P. Eng编写。该公司还拥有位于魁北克费蒙特东南50公里处的Lac Pegma铜-镍-钴矿床的100%权益。

Further details on the Company and the individual projects, including the NI 43-101 Technical reports on the Golden Zone property, can be found on the Company's website at .

更多有关公司和个人项目的详细信息,请访问公司的网站。

For further information, please contact:

如需更多信息,请联系:

Steve Roebuck
President & CEO
Mobile: (905) 741-5458
Email: sroebuck@avidiangold.com

Steve Roebuck
总裁兼首席执行官
移动电话:(905)741-5458
电子邮件:sroebuck@avidiangold.com

or

或者

Dino Titaro
Director, Chairman of the Board
Mobile: (647) 283 7600
Email: dtitaro@avidiangold.com

Dino Titaro
董事,董事长
移动电话:(647)283 7600
电子邮件:dtitaro@avidiangold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TSX Venture Exchange及其监管服务提供商(如TSX Venture Exchange的政策中所定义的那样)均不对本新闻稿的充分性或准确性承担责任。

Forward-looking information

前瞻性信息

This News Release includes certain "forward-looking statements" which are not comprised of historical facts, including statements regarding the use of proceeds. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the progress, timing and potential closing of the Transaction, the Company's acquisition of shares in Contango, the Company's receipt of the Cash Consideration or any part thereof, the Company's potential receipt of the Deferred Purchase Price, any receipt by the Company of shareholder, TSX Venture Exchange, NYSE-A or any other applicable regulatory approval of the Transaction or Agreement, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations by the Company or any other company in which it has an interest, the material or financial outcomes of any such operations so commenced, any anticipated benefit to the Company or its shareholders resulting from the Company's shareholdings, the financial state of the Company should the Transaction be successfully completed, the payment or non-payment of any termination fee in connection with the Transaction, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the failure to complete the Transaction on the terms provided or at all, failure to receive requisite approvals in respect of the Transaction, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

此新闻发布中包括某些“前瞻性陈述”,这些陈述不包括历史事实,包括关于使用收益的声明。前瞻性陈述包括估计并描述公司未来计划,目标或目标的陈述,包括表明公司或管理层希望获得陈述条件或结果。由于前瞻性陈述是基于假设并涉及未来事件和条件,因此它们本质上涉及固有的风险和不确定性。虽然这些语句是基于公司目前可用的信息,但公司不保证实际结果将符合管理层的期望。与前瞻性信息相关的风险,不确定性和其他因素可能导致实际事件,结果,表现,前景和机会与该前瞻性信息所表达的不一致,黄金生产的时间表将有所不同。。前瞻性信息在此新闻发布中包括但不限于交易,收购交易的进展,时间表和潜在收益,公司对Contango股份的收购,公司收到现金对价或任何组成部分,公司潜在收到的延期购买价格,公司是否收到股东,TSX Venture交易所,NYSE-A或任何其他适用的监管批准交易或协议,公司的目标,目标或未来计划,陈述,勘探结果,潜在矿藏,估算的矿藏,勘探和矿山开发计划,公司或其任何其他公司进行的操作的开始时间,任何这样的操作的物质或财务结果开始,预计从公司的持股中获得的任何预期收益,如果交易成功完成,则金融状态,与交易有关的支付或未支付终止费用的事实,市场条件的估计。可能导致实际结果与此前瞻性信息不一致的因素包括但不限于:未按规定完成交易,未获得与交易有关的必要批准,未能识别矿产资源,未能将估计的矿产资源转换为储量,无法制定推荐生产决策的可行性研究,冶金测试结果是初步的,延迟或未能获取所需的政府,环境或其他项目批准,政治风险,无法履行为第一民族和其他土著人民提供适当安置的义务,未来融资所需的可用性和成本发生变化,股票市场变化,通货膨胀率,汇率变动,商品价格波动,项目发展的延迟,资本和运营成本与估计相差很大以及涉及矿业勘探和开发行业的其他风险,以及公司在SEDAR上提交的公共文件中提出的风险。尽管公司相信在准备此新闻发布中的前瞻性信息时使用的假设和因素是合理的,但不应依赖这些信息,这些信息仅适用于本新闻发布的日期,也不能确保这些事件将在披露的时间范围内或根本不会发生。公司否认有意或有义务更新或修订任何前瞻性信息,除非法律要求。


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