Corvus Gold Inc. - KOR STOCK NEWS

Corvus Gold Inc. (KOR) announced its intention to voluntarily delist from NASDAQ, contingent on the closing conditions of its Arrangement with AngloGold Ashanti Holdings plc. Shareholder approval for the Arrangement was overwhelmingly in favor. Corvus plans to file a Form 25 for delisting on or around January 18, 2022, with an effective date expected by January 28, 2022. Concurrently, the company will file a Form 15 to suspend its SEC reporting obligations. The finalization of this transaction will result in Corvus becoming a wholly-owned subsidiary of AngloGold Ashanti Limited.

Corvus Gold Inc. (TSX: KOR, NASDAQ: KOR) announced that shareholders overwhelmingly approved the plan of arrangement with AngloGold Ashanti Holdings plc, allowing AngloGold to acquire an additional 80.5% of Corvus shares. At a recent special meeting, 99.45% of the votes supported the resolution. The arrangement is set for final court approval on January 11, 2022, with an anticipated closing date around January 18, 2022. Post-acquisition, Corvus shares will be delisted from both the TSX and NASDAQ. Shareholders are encouraged to contact Computershare Investor Services for details on exchanging their shares.

Corvus Gold has filed a Current Report on Form 8-K with the SEC regarding its upcoming special meeting scheduled for January 6, 2022. This meeting relates to a plan of arrangement where 1323606 B.C. Unlimited Liability Company will acquire 80.5% of Corvus shares not already owned by AngloGold Ashanti. Shareholders are urged to vote via proxy before January 4, 2022. The Current Report contains vital supplementary information to the management circular released on November 25, 2021, which is also available on SEDAR and EDGAR.

Corvus Gold Inc. (TSX: KOR, NASDAQ: KOR) held its 2021 Annual General Meeting (AGM) on October 6, 2021, in Vancouver, where all resolutions were approved by shareholders. A total of 75,283,852 shares, representing 59.29% of all outstanding shares, were voted. Key directors, including CEO Jeffrey Pontius, were re-elected, with Steven Aaker receiving 99.17% votes in favor. Crowe MacKay LLP was appointed as auditors for the 2022 fiscal year. Shareholders also supported conducting an annual advisory vote on executive compensation.

AngloGold Ashanti has announced a definitive agreement to acquire the remaining 80.5% of Corvus Gold not already owned at an all-cash price of C$4.10 per share, valuing Corvus at approximately C$570 million. The transaction represents a 26% premium based on Corvus' closing stock price from July 12, 2021. This acquisition aims to consolidate the Beatty District in Nevada, enhancing production capabilities and establishing a low-cost production base. The deal is expected to close in Q1 2022, pending shareholder and regulatory approvals.

Corvus Gold Inc. (TSX: KOR, NASDAQ: KOR) has received an unsolicited acquisition proposal from AngloGold Ashanti Limited to purchase all its outstanding shares at CAD $4.00 per share in cash. The Board is currently reviewing the offer to ensure shareholder value is maximized. Corvus operates the North Bullfrog and Mother Lode projects in Nevada, covering over 127 km² and controlling 100% of the mining rights. Shareholders are advised to take no action until further notice.

Corvus Gold Inc. (TSX: KOR, NASDAQ: KOR) announced positive drill results from its Mother Lode mineral resource expansion program, highlighting significant gold intercepts such as ML20-193CT with 118m at 1.84 g/t Au. The results affirm the potential to expand the mineral resources, particularly in the northern feeder area. An updated mineral resource estimate is anticipated after the completion of this drilling phase. However, some drill holes faced challenges due to poor conditions, which may affect the overall outcomes.

Corvus Gold Inc. (TSX: KOR, NASDAQ: KOR) announced significant drill results from its Mother Lode and Lynnda Strip gold discoveries. Drill holes ML20-183CT and ML20-185CT at Lynnda Strip revealed gold grades of 0.79 g/t and 0.82 g/t over substantial intervals, indicating a robust mineralization potential. In the Mother Lode, holes ML20-174CT and ML20-175CT showed high-grade intervals of 2.57 g/t and 6.48 g/t gold. These results support upcoming mineral resource estimates and highlight the eastern Bullfrog District's potential for large-scale gold production as Corvus maintains strong financial health.

Corvus Gold Inc. (TSX: KOR, NASDAQ: KOR) has secured a USD $20M loan from AngloGold Ashanti North America. This unsecured loan will support permitting and pre-development at the North Bullfrog project and exploration at the Mother Lode and Lynnda Strip projects. Key terms include a fixed interest rate of 1.10725% with repayment contingent upon mine construction permit acquisition. AngloGold, a related party due to its significant shareholding, has an exclusivity period of 90 days regarding material transactions. The Company is exempt from minority shareholder approval under MI 61-101 regulations.