Brief: Ashanti Gold And Desert Gold Announce Letter Of Intent For The Acquisition Of Ashanti Gold By Desert Gold

Desert Gold Ventures

11/03/2019 12:10

March 11 (Reuters) - Ashanti Gold Corp  AGZ.V :
    * ASHANTI GOLD AND DESERT GOLD ANNOUNCE BINDING LETTER OF
INTENT
FOR THE ACQUISITION OF ASHANTI GOLD BY DESERT GOLD
    * ASHANTI GOLD CORP - ALL ISSUED AND OUTSTANDING ASHANTI
SHARES
WILL BE EXCHANGED ON BASIS OF 0.2857 DESERT GOLD COMMON SHARES
FOR EACH ASHANTI SHARE
    * ASHANTI GOLD CORP - EXCHANGE RATIO IMPLIES CONSIDERATION
OF
APPROXIMATELY CAD $0.0514 PER ASHANTI SHARE
    * ASHANTI GOLD - UNDER TERMS OF LOI, CO'S CEO TIM MCCUTCHEON
WILL
JOIN BOARD OF DESERT GOLD UPON CLOSING OF PROPOSED TRANSACTION
    * ASHANTI GOLD - PROPOSED TRANSACTION IS ABOUT CAD $3.8
MILLION ON
FULLY DILUTED IN-MONEY BASIS, &ASHANTI SHAREHOLDERS WILL OWN 31%
OF COMBINED ENTITY

Source text for Eikon:  ID:nGNX99KJ2X 
Further company coverage:  AGZ.V 

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