Gold Road Abandons Apollo Bid, Sells Stake

Gold Road Resources (ASX: GOR)

Announced they have abandoned their bid for Apollo Consolidated after Ramelius Resources increased their offer to 62 c per share in cash and scrip.

Gold Road are selling their 19.9% stake in Apollo to Ramelius.



Gold Road ASX : GOR
Stage Production   (50% JV)
Metals Gold
Market cap A$1.42 Billion   @ A$1.60
Location Laverton, Western Australia




Gold Road logo.

Gold Road Resources Limited (Gold Road or the Company) refers to its all cash
unconditional off-market takeover offer for Apollo Consolidated Limited (Apollo) at
$0.56 per Apollo share (Offer).

Following Gold Road’s announcement on 8 November 2021, Gold Road advises that it
has accepted the off-market takeover offer made by Ramelius Resources Limited in
relation to its entire holding of Apollo shares (being 58,324,117 Apollo shares).

A second supplementary bidder’s statement (in the form attached) in relation to the Offer has been lodged with ASIC today.

This release has been authorised by the Board




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At the time pf publishing the author holds shares in Gold Road Resources bought in the market o the day of purchase at the [prevailing price.