Benzinga | Mar 10, 2021 07:23AM EST

Newmont Acquires Remaining 85.1% Of Common Shares Of GT Gold For ~$311M

Newmont Corporation (NYSE:NEM, TSX:NGT) and GT Gold Corp. (TSXV:GTT) announced that the companies have entered into a binding agreement in which Newmont will acquire the remaining 85.1% of common shares of GT Gold not already owned by Newmont. Under the terms of the agreement, Newmont will acquire each GT Gold share at a price of C$3.25, for cash consideration of approximately US$311 million (C$393.0 million).