01:42 PM EST - Steppe Gold Ltd : Announces they have entered into a binding letter of intent pursuant to which Steppe Gold, either directly or through a wholly-owned subsidiary, will acquire all of the issued and outstanding common shares of Anacortes by way of a court approved plan of arrangement under the Business Corporations Act, in an all-share transaction. Under the terms of the Binding Agreement, Anacortes shareholders will receive 0.4532 of a Steppe Gold common share for each Anacortes Common Share, which represents consideration of approximately C$0.48 per Anacortes Common Share and a premium of 36% based on the closing prices of the Anacortes Common Shares on the TSX-V and the Steppe Common Shares on the TSX, each as of the close of trading on March 3, 2023. Steppe Gold Ltd
shares T.STGO are trading up $0.02 at $1.07.
