Thesis Gold & Silver Inc. has agreed to a C$58,462,111 securities offering that will expand AngloGold Ashanti plc’s strategic shareholding in the company from approximately 5% to 9.7%.

The financing package consists of hard-dollar common shares priced at C$3.4118 each for gross proceeds of C$28,462,112, alongside British Columbia flow-through shares priced at C$4.95 for C$10,000,000 and national flow-through shares priced at C$4.67 for C$19,999,999.

Gross proceeds raised through the flow-through shares will be directed toward eligible Canadian exploration expenses at the 100%-owned Lawyers-Ranch Project in British Columbia’s Toodoggone Mining District. Thesis Gold & Silver is required to incur these qualifying expenditures on or before December 31, 2027. Funds generated from the common share placement will support working capital, general corporate purposes, and ongoing technical studies across the asset.

The Lawyers-Ranch Project hosts a gold-equivalent mineral resource with meaningful silver exposure.

Upon closing of the offering, Thesis Gold & Silver and AngloGold Ashanti will enter into an amended and restated investor rights agreement that replaces the previous arrangement established in February 2026.

The transaction is conditional on final approval from the TSX Venture Exchange and the satisfaction of customary closing conditions. All securities issued under the offering will be subject to a four-month hold period, with completion anticipated on or around August 27, 2026.

“We are very pleased that AngloGold Ashanti has elected to significantly increase its investment in Thesis. We believe their decision to increase their position represents a strong endorsement of the quality and scale of Lawyers-Ranch and the progress our team continues to make advancing the Project. Having AngloGold Ashanti as a global gold producer as significant strategic shareholder, provides further validation of Lawyers-Ranch and positions Thesis exceptionally well as we advance through feasibility, permitting and continued exploration.”

— Dr. Ewan Webster, President & CEO

The financing builds upon AngloGold Ashanti's initial 5% strategic investment in Thesis completed in February 2026, further cementing the relationship between the two companies as project activities continue.

Read the full announcement: Thesis Gold & Silver Announces AngloGold Ashanti to Increase Its Strategic Investment Through a C$58.5M Offering