Avidian Gold Divests Alaskan Subsidiary to Contango

Avidian Gold (TSE:AVG) has released an update.

Avidian Gold Corp. has agreed to sell its Alaskan subsidiary, Avidian Gold Alaska Inc., to Contango ORE, Inc. for a total potential consideration of up to US$3.4 million, including cash and Contango shares. The deal is set to fortify Avidian’s balance sheet and allow participation in Contango’s expected near-term gold production and future growth. Post-transaction, Avidian plans to focus on its Jungo gold-copper project in Nevada and explore strategic opportunities.

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