Form 4: Augusta Gold Director Sells Shares, Options in Merger
Insider Transaction Report
Augusta Gold Corp. director Lenard F. Boggio disposed of common shares and stock options following the consummation of the merger with AngloGold Ashanti (U.S.A.) Holdings Inc. on October 23, 2025.
Summary
- Director Lenard F. Boggio disposed of 42,222 common shares of Augusta Gold Corp. on October 23, 2025.
- This disposition occurred as a direct 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.
- Additionally, 150,000 Director Stock Options with an exercise price of $0.8 (converted from C$1.11) and 350,000 Director Stock Options with an exercise price of $1.55 (converted from C$2.00) were cancelled.
- All outstanding options were deemed unconditionally vested and exercisable due to the merger and subsequently cancelled in exchange for a cash payment equal to the difference between the C$1.70 per share consideration and the respective option exercise prices, less applicable withholdings.
Sentiment
Score: 7
Explanation: The sentiment is positive for the director as they successfully monetized their holdings and options through a merger, receiving cash consideration. For the company, it marks the end of its independent public life, which is a neutral event in this context.
Positives
- Director Lenard F. Boggio received cash consideration for all his beneficially owned common shares at C$1.70 per share.
- All outstanding stock options held by the director were deemed unconditionally vested and exercisable, then cancelled for a cash payment representing their in-the-money value.
Negatives
- Augusta Gold Corp. ceased to be an independent publicly traded entity following its acquisition by AngloGold Ashanti (U.S.A.) Holdings Inc.
Risks
- The filing, as a Form 4, reports the outcome of a completed merger and does not introduce new risks for the company, which has been acquired. For the director, the investment risk associated with holding Augusta Gold Corp. shares is eliminated, replaced by cash proceeds.
Future Outlook
Augusta Gold Corp. has been acquired by AngloGold Ashanti (U.S.A.) Holdings Inc. and no longer operates as an independent entity, thus it has no independent future outlook.
Industry Context
This transaction reflects a trend of consolidation within the gold mining industry, where larger entities acquire smaller exploration or development companies to expand their asset portfolios and resource base.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Lenard F. Boggio | NA | 10/23/2025 | Cessation of Augusta Gold Corp. as an independent entity due to its acquisition by AngloGold Ashanti (U.S.A.) Holdings Inc. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Cessation of independent corporate governance | Augusta Gold Corp.'s independent corporate governance structure ceased to exist upon the consummation of the merger, as it became a subsidiary of AngloGold Ashanti (U.S.A.) Holdings Inc. | 10/23/2025 | Complete integration into the acquirer's governance framework, dissolving Augusta Gold Corp.'s previous board and committee structures. |
Stakeholder Impact
- Shareholders: Received cash consideration of C$1.70 per share for their holdings, concluding their investment in Augusta Gold Corp.
- Management: Director Lenard F. Boggio's role with Augusta Gold Corp. concluded as a result of the merger, and his equity and options were monetized.
Next Steps
- For the director, no further actions are required regarding Augusta Gold Corp. shares as the company has been acquired.
- For Augusta Gold Corp., the next steps involve full integration into AngloGold Ashanti (U.S.A.) Holdings Inc.'s operations and corporate structure.
Key Dates
| Date | Description |
|---|---|
| 02/22/2021 | Grant date for 350,000 Director Stock Options. |
| 04/16/2024 | Grant date for 150,000 Director Stock Options. |
| 07/15/2025 | Date of the Agreement and Plan of Merger. |
| 10/23/2025 | Consummation date of the merger and transaction date for disposition of shares and options. |
Keywords
Augusta Gold Corp, AUGG, AngloGold Ashanti, Merger, Acquisition, Form 4, Insider Trading, Stock Options, Director, Gold Mining
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