Thesis Gold Enters Subscription Agreements With AngloGold And Centerra

(RTTNews) - Thesis Gold Inc. (THSGF,TAU.V), on Wednesday said AngloGold Ashanti plc (AU) has entered into a subscription agreement to acquire a 5% stake in the company through a private placement, with gross proceeds of approximately C$38.7 million.

The transactions are expected to close on or around February 26.

Under the subscription agreement, AngloGold Ashanti will purchase 13.86 million shares at C$2.79 per share, representing the February 18 volume-weighted average price on the TSX Venture Exchange.

Centerra Gold Inc. (CGAU) will also subscribe for 2.06 million shares at C$2.79 per share for gross proceeds of about C$5.75 million to maintain a 9.9% ownership stake.

The company said total gross proceeds from both subscriptions are expected to reach approximately C$44.4 million and will be used for working capital and advancing technical studies at the Lawyers-Ranch gold-silver project.

On Wednesday, Thesis Gold closed trading 4.80% higher at C$2.8400 on the TSX Venture Exchange.