Vango Mining, which is focused on the exploration and development of the Plutonic Dome Gold Project located in the Midwest Region of Western Australia is pleased to announce an off-market takeover offer to acquire all of the ordinary shares in Dampier Gold. Dampier Gold shareholders who accept the Offer will, subject to the fulfilment or waiver of the conditions to the Offer, receive two Vango ordinary shares for every seven Dampier Gold ordinary shares they hold. Based on the ASX closing price of Vango Shares on 14 September 2018 of 19.5 cents, the Offer values each Dampier Gold Share at 5.6 cents. This represents a 86.7% premium to the closing price of Dampier Gold Shares on the ASX on the same date of 3.0 cents. On the basis of the 1 and 3 month volume weighted average prices of the shares traded in both companies on the ASX, the Offer represents premiums of 98.3% and 98.7% respectively.
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