TORONTO and PERTH, Australia, Aug. 6, 2024 /CNW/ - Westgold Resources Limited (ASX: WGX) (TSX: WGX) (OTCQX: WGXRF) – (Westgold or the Company) is pleased to announce that its shares commenced trading on the Toronto Stock Exchange (TSX) at 9:30am EDT on 6 August 2024 under the ticker symbol WGX. Westgold has retained its primary listing on the ASX under the ticker symbol WGX.
The listing follows the completion of a merger between Westgold and Karora Resources Inc. (Karora) on 1 August 2024 under which Westgold acquired 100% of the issued and outstanding shares of Karora (Karora Shares) by way of a statutory plan of arrangement under the Canada Business Corporations Act (the Arrangement).
Karora Shares were delisted from the TSX at market close on 2 August 2024 and Westgold has applied for Karora to cease to be a reporting issuer under applicable Canadian securities laws.
For more information on the Arrangement, see Karora's management information circular dated 17 June 2024, filed under Westgold's profile on SEDAR+ at www.sedarplus.ca.
Westgold Managing Director and CEO Wayne Bramwell said:
"The merger with Karora creates an ASX and TSX listed, mid-tier gold producer with international appeal. Westgold is unhedged, well funded and focused on delivering shareholder returns.
The TSX:WGX listing provides increased liquidity and brings a +400,000 ounce producer to a broader investor base. The listing also sees potential demand from index funds tracking the GDX, and GDXJ.
Westgold is now positioned as a leading intermediate gold producer in Canada and a top 5 producer in Australia."
Forward looking statements
This document contains "forward-looking information" and "forward-looking statements" which are based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of Westgold believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect or the actual results of which may vary or differ materially. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'plans', 'believes', 'estimates', 'seeks', 'intends', 'targets', 'projects', 'forecasts', or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may', 'will', 'should', 'would' and 'could'. Forward-looking information contained herein includes, but is not limited to: the strengths, characteristics and potential of Westgold following completion of the Arrangement, including the achievement of any contemplated corporate cost savings and operating synergies; discussion of future plans, projects, objectives, estimates and forecasts and the timing related thereto; and the timing and acceptance of an application for Karora ceasing to be a reporting issuer in Canada. Readers are cautioned that the foregoing list and other information contained herein is not exhaustive of all factors and assumptions which may have been used by Westgold. Although management believes that the assumptions made by Westgold and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Westgold to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, changes in laws, regulations and practices, the geopolitical, economic, permitting and legal climate that Westgold operates in. Westgold believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Readers should not place undue reliance on forward-looking information. Westgold does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This document includes information that has been prepared by third parties, and views based on information that has been prepared by third parties. No representation or warranty is made as to the accuracy, completeness or reliability of the information. This document should not be relied upon as a recommendation or forecast by Westgold.
This announcement is authorised for release to the ASX by the Board.
SOURCE Westgold Resources Limited
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