Form 4: Augusta Gold Director Sells Shares Post-Merger

Augusta Gold Corp. Director Daniel Earle disposed of common shares and stock options following the company's acquisition by AngloGold Ashanti.

Summary

• Daniel Earle, a Director of Augusta Gold Corp. (AUGG), disposed of all his beneficial ownership in the company on October 23, 2025.
• The disposal was a result of the Agreement and Plan of Merger, dated July 15, 2025, where AngloGold Ashanti (U.S.A.) Holdings Inc. acquired all outstanding common shares of Augusta Gold Corp. for cash consideration of C$1.70 per share.
• Mr. Earle directly disposed of 330,000 common shares and indirectly disposed of 561,800 common shares held by 2210637 Ontario Ltd.
• All outstanding stock options were deemed unconditionally vested and exercisable, then cancelled in exchange for a cash payment equal to the difference between the C$1.70 per share consideration and the option's exercise price, less applicable withholdings.
• 150,000 Director Stock Options with an exercise price of $0.8 (C$1.11) were cancelled, resulting in a cash payment of C$0.59 per option (C$1.70 C$1.11).
• 350,000 Director Stock Options with an exercise price of $1.55 (C$2.00) were cancelled without value, as their exercise price exceeded the merger consideration of C$1.70 per share.

Sentiment

Score: 7

Explanation: The filing reports the completion of a merger, which provides a definitive cash value for shareholders. While the company ceases to exist independently, the transaction itself is a clear, positive outcome for shareholders receiving cash, and a mandatory event for the reporting person.

Positives

• The merger provided a definitive cash exit for Augusta Gold Corp. shareholders at C$1.70 per share.
• The reporting person, Daniel Earle, received cash for his directly and indirectly held common shares and in-the-money stock options.

Negatives

• Augusta Gold Corp. ceased to exist as an independent publicly traded entity following the merger.
• Stock options with an exercise price of C$2.00 (350,000 options) were cancelled without value, as the merger consideration was C$1.70 per share.

Risks

• The filing reports a completed transaction, eliminating future investment risk in Augusta Gold Corp. for shareholders who received cash consideration.

Future Outlook

Augusta Gold Corp. has been acquired by AngloGold Ashanti and no longer operates as an independent entity, thus it has no independent future outlook.

Industry Context

This transaction represents a consolidation event within the gold mining industry, where a larger entity, AngloGold Ashanti, acquired Augusta Gold Corp. Such mergers are common as companies seek to optimize portfolios, achieve economies of scale, or acquire specific assets.

Stakeholder Impact

• Shareholders of Augusta Gold Corp. received cash consideration for their shares, concluding their investment in the independent entity.
• The reporting person, Daniel Earle, no longer holds any beneficial ownership in Augusta Gold Corp.

Next Steps

• Augusta Gold Corp. common shares will be delisted from public trading following the merger completion.
• Shareholders of Augusta Gold Corp. will receive the cash consideration of C$1.70 per share.

Key Dates

Keywords

Augusta Gold, AUGG, Merger, Acquisition, AngloGold Ashanti, Form 4, Insider Transaction, Share Disposal, Stock Options, Director, Beneficial Ownership