Westgold Resources Limited (ASX:WGX) agreed to acquire Karora Resources Inc. (TSX:KRR) on April 7, 2024. Under the terms of agreement, Karora will receive 2.524 Westgold fully paid ordinary shares and AUD 0.68 in cash. Upon completion of the Transaction, Westgold shareholders will own 50.1% of the combined company and former Karora shareholders will own 49.9%. Westgold intends to undertake a secondary listing on the TSX as part of the Transaction. The transaction is subject to approval from shareholder and court approvals, the Transaction is subject to applicable regulatory approvals, including those of FIRB, TSX and ASX, and the satisfaction of certain other closing conditions customary for a transaction of this nature, including, among others receipt of key third party consents. The Transaction has been unanimously approved by the boards of directors of Westgold and Karora. Closing of the Transaction is currently expected to occur on July 19, 2024.

Argonaut PCF Limited acted as financial advisor, Thomson Geer and Stikeman Elliott LLP acted as legal advisor to Westgold Resources. CIBC World Markets, Inc. and Cormark Securities Inc. acted as financial advisor, HopgoodGanim and Bennett Jones Services Limited Partnership acted as legal advisor to Karora Resources. The board of directors of Karora has received opinions from Cormark Securities Inc. and Haywood Securities Inc. and the special committee has received an opinion from Desjardins Capital Markets.