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Ellis Martin Report: Steppe Gold Steps into Peru with Acquisition of Anacortes Mining

April 1, 2023
426

Steppe Gold Limited

OTCQX:STPGF | TSX:STGO

Join Ellis Martin now for a conversation with Aneel Waraich the Executive Vice President, Co-Founder and Director of Steppe Gold Limited OTCQX:STPGF | TSX:STGO. You’ll hear an update on the company’s ATO Gold Mine in Mongolia as well as the following significant news establishing a strong gold footprint in Peru.

LISTEN TO THE INTERVIEW!

https://www.youtube.com/watch?v=p3Ko5YdMbOo&t=1s

The company recently announced that they have entered into a binding letter of intent pursuant to which Steppe Gold, either directly or through a wholly-owned subsidiary, will acquire all of the issued and outstanding common shares of Anacortes Mining by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia), in an all-share transaction (the “Transaction“).

Under the terms of the Binding Agreement, Anacortes shareholders will receive 0.4532 of a Steppe Gold common share (each, a “Steppe Common Share“) for each Anacortes Common Share, which represents consideration of approximately C$0.48 per Anacortes Common Share and a premium of 36% based on the closing prices of the Anacortes Common Shares on the TSX-V and the Steppe Common Shares on the TSX, each as of the close of trading on March 3, 2023. Shareholders of Steppe Gold and Anacortes will own 79% and 21% of the combined company, respectively, on a basic basis.

http://www.steppegold.com
http://www.ellis.gold
Steppe Gold is a paid sponsor of The Ellis Martin Report

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Disclaimer
MiningIR hosts a variety of articles from a range of sources. Our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.
James Hyland, MiningIR
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