M&A · Energy · Gold and Silver Ores
Artemis Gold Inc. to acquire Vista Gold Corp
Announced Sep 21, 2026 · Pending Oct 19, 2026
Deal value$427MEV $364M
Premium25.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock$2.83 per share
Transaction
- Acquirer
- Artemis Gold Inc. (ARTG)
- Target
- Vista Gold Corp (VGZ)
- Buyer type
- Strategic
- Offer price per share
- $2.83
- Enterprise value
- $364M
- Status
- Pending Oct 19, 2026
Deal protections
- Break fee (target pays)
- $18.1M · 4.3%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- BMO Capital Markets
- To the target
- CIBC
Sector context · Energy
- Comparable deals
- 29 in the prior 24 months
- Premium
- 25.0% vs. 35.5% sector median
- EV / Adj. EBITDA
- Sector median 9.7x
- Break fee
- 4.3% vs. 3.0% sector median
Timeline
- AnnouncedSep 21, 2026
- Proxy filedOct 19, 2026
- Definitive proxyPending
- Shareholder votePending
- ClosedPending