/NOT FOR DISTRIBUTION TO
UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
SURREY, UNITED
KINGDOM, July 18, 2024 /CNW/ - AngloGold
Ashanti Holdings plc (the "Investor") announced
today that, in connection with its participation right
pursuant to the investor rights agreement entered into between the
Investor and the G2 Goldfields Inc. (the "Issuer") on
January 19, 2024 (the "Investor
Rights Agreement"), it has agreed to acquire an additional
8,965,365 common shares of the Issuer ("Shares") through the
Issuer's previously announced non-brokered private placement of
28,965,365 Shares at a price of $1.45
per Share for aggregate gross proceeds of approximately
C$42,000,000 (the "Private
Placement").
As of the date hereof, the Investor has
beneficial ownership of 26,758,600 Shares, representing
approximately 12.8% of the issued and outstanding Shares on a
non-diluted basis. Upon closing of the Private Placement, assuming
the Investor participates on the terms set forth above, the
Investor will have beneficial ownership of 35,723,965 Shares,
representing approximately 15.0% of the issued and outstanding
Shares on a non-diluted basis.
Pursuant to the Investor Rights Agreement,
provided the Investor maintains a diluted ownership interest of at
least 10% (subject to and as calculated in accordance with the
Investor Rights Agreement), the Investor is entitled to
anti-dilution rights, comprising (a) the right to participate in
future equity financings by the Issuer (the "Participation
Right"), (b) where the Investor has exercised its full
Participation Right in an equity financing of the Issuer, the right
to acquire all or any portion of the equity securities that were
not subscribed for by other investors in such equity financing, and
(c) a top up right, in each case provided that the exercise of such
rights may not cause the Investor's diluted ownership interest (as
calculated in accordance with the Investor Rights Agreement) to
exceed 19.9%.
The Investor intends to participate in the
Private Placement for investment purposes and in order to increase
the size of its strategic investment in the Issuer. Pursuant to the
Investor Rights Agreement and in accordance with the Participation
Right, the Investor has the right to participate in equity
financings of the Issuer to maintain or increase its interest in
the Issuer. Depending upon a number of factors including market and
other conditions, the Investor may from time to time increase or
decrease its beneficial ownership, control, direction or
economic exposure over securities of the Issuer.
The Shares are listed on the TSX under the
symbol "GTWO" and the OTC Markets under the symbol "GUYGF". The
Issuer is a corporation existing under the laws of Canada with its head office at 141 Adelaide
St. West, Suite 1101, Toronto, ON
M5H 3L5.
An early warning report will be
electronically filed with the applicable securities commission in
each jurisdiction where the Issuer is reporting and will be
available on SEDAR+ at www.sedar.com. For further information or to
obtain a copy of the early warning report, please
contact:
SOURCE S&E Services Limited Partnership
