It Took WWE Three Months to Be Sold After Strategic Review Process

On January 6, 2023, WWE issued a press release, 'WWE Provides Update Regarding Composition of Its Board of Directors and Exploration of Strategic Alternatives.'

On January 12, 2023, WWE issued a press release, 'WWE Engages Outside Advisors to Support Review of Strategic Alternatives.'

Their January 12, 2023, press release said at the bottom, "There can be no assurances given regarding the outcome or timing of the strategic alternatives review process. WWE does not intend to comment further until the process has concluded or the Company has otherwise determined that further disclosure is appropriate or required."

This is similar to how Augusta Gold (TSX: G) said at the bottom of its press release, "The Company does not intend to provide announcements or updates unless or until it determines that further disclosure is appropriate or necessary."

We had doubts that WWE would actually follow through and sell because maybe Vince McMahon was just wanting to take over control of the company again and make Goldberg the champion. Companies more often than not know exactly what they are planning to do when this gets announced, but they have an obligation to shareholders to explore to see if there is an opportunity to get even more money than whatever deal may already be on the table.

Endeavor announced their deal to pay a huge premium for WWE on April 3, 2023. The new company combined with UFC called TKO began trading one year ago and closed today at a new all-time high.

It shouldn't take too long for Augusta Gold (TSX: G) to announce a deal but when we say imminent, we should clarify that it will take more than a couple of days. WWE is probably a good example to go by where it could take about three months.

There is always a risk of something screwing up the deal like the Augusta Group previously experienced with Solaris Resources (TSX: SLS) earlier this year when Trudeau wouldn't allow Zijin Mining to acquire the company claiming copper is a "critical metal." They attempted to do a smaller 15% sale allowing Zijin Mining to first become a strategic investor, but the Canadian government wouldn't even respond to their request for approval in a timely manner, so they had to cancel the deal. There was no reason to reject the deal because the copper is in Ecuador, not Canada.

With Augusta Gold (TSX: G) everybody already knows a Chinese company won't be allowed to acquire it so that isn't something they would even consider.

As bad as the U.S. is today at least we will have a real President soon who tries his best to do a good job with the deep state always fighting to stop his every move. Trudeau is totally incompetent in every way. He believes he has the right to control a copper project in Ecuador and stop China from acquiring it simply because SLS has an office in Canada and is listed on a Canadian exchange.

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