Artemis Gold Agrees to Buy Vista Gold In $427 Million Deal
Artemis Gold (ARTG.V) agreed to buy all of the issued and outstanding shares of Vista Gold (VGZ.TO, VGZ), pursuant to a court-approved transaction, for $427 million, it said in a statement on Monday.Artemis currently holds 4.95% of the shares outstanding of Vista Gold, which owns the Mt. Todd gold project in Australia. Vista Gold shareholders will receive 0.0966 common shares of Artemis Gold for each Vista Gold common share, Artemis Gold said.The consideration is payable in Artemis Gold common shares, with the company adding that no cash consideration is payable and no new debt is being incurred.Artemis Gold and Vista Gold shareholders will own about 95% and 5% of the pro forma company, respectively, after the completion of the deal.The deal is expected to be completed in January 2027 if it receives approval from Vista Gold shareholders and the court, and other conditions are satisfied.Shares of Artemis Gold were last seen down 5.7% at CA$38.65 on the TSX Venture Exchange. Vista Gold shares were last seen up 15% at CA$3.68 on the Toronto Stock Exchange.Price: $38.71, Change: $-2.29, Percent Change: -5.59%
