OceanaGold Corporation has entered into a binding Scheme Implementation Deed to acquire 100% of Ausgold Limited by way of a Court-approved scheme of arrangement. The transaction changes ownership of the Katanning Gold project, placing the entire asset under OceanaGold following the completion of the binding agreement.

Under the terms of the transaction, Ausgold shareholders will receive 0.03365 common shares of OceanaGold for each share held. The agreed share exchange ratio implies an offer value of Australian $1.36 per share, establishing a total transaction equity value of approximately Australian $776 million.

Dundee Corporation holds a substantial stake in the target company, owning 42,467,969 Ausgold shares alongside 3,333,333 warrants. That holding represents an approximate 7.7% interest in Ausgold on an undiluted basis, and an 8.3% interest when calculated on a partially diluted basis.

Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation, addressed the binding agreement and its implications for shareholders:

“We are pleased to support this transaction, which recognizes the value and quality of the Katanning Gold project and provides shareholders with both an attractive premium and continued exposure to future upside through OceanaGold. This transaction demonstrates the value of patient investment in quality assets and delivers a compelling outcome for shareholders.”

— Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation

The implementation of the binding Scheme Implementation Deed remains subject to the necessary Court approval process and customary closing conditions before the acquisition of 100% of Ausgold can be finalized.

Read the full announcement: Dundee Corporation Announces Transaction Between Ausgold Limited and OceanaGold Corporation