YAMANA GOLD ANNOUNCES FILING OF EARLY WARNING REPORT IN CONNECTION WITH CLOSING OF EQUINOX GOLD MERGER WITH LEAGOLD
March 13 2020 - 4:30PM
YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or the “Company”)
today announced that it has filed an early warning report under
National Instrument 62-103 in connection with the closing of the
previously announced merger (the “Transaction”) of Equinox Gold
Corp. (“Equinox Gold”) and Leagold Mining Corporation (“Leagold”).
Upon completion of the Transaction, Yamana
received an aggregate of 19,236,380 common shares of Equinox Gold
(“Equinox Shares”) and warrants exercisable to acquire an aggregate
of 8,345,501 Equinox Shares (“Warrants”) in exchange for its
Leagold shares and warrants, representing approximately 8.92% of
the issued and outstanding Equinox Shares on a non-diluted basis.
If all Warrants held by Yamana were exercised, Yamana would hold
approximately 12.32% of the issued and outstanding Equinox Shares
on a partially-diluted basis, assuming no other convertible
securities of Equinox are exercised. On a fully-diluted basis,
assuming the exercise of all currently outstanding convertible
securities of Equinox, Yamana would hold approximately 8.75% of the
then issued and outstanding Equinox shares. Prior to the
Transaction, Yamana did not hold any Equinox Shares or convertible
securities of Equinox. Each Warrant entitles the holder thereof to
purchase one Equinox Share at a price of C$11.18 until May 24,
2020.
While Yamana currently has no plans or
intentions with respect to the Equinox Gold securities, depending
on market conditions, general economic and industry conditions,
trading prices of Equinox Gold’s securities, Equinox Gold’s
business, financial condition and prospects and/or other relevant
factors, Yamana may develop such plans or intentions in the future
and, at such time, may from time to time acquire additional
securities, dispose of some or all of the existing or additional
securities or may continue to hold the Equinox Shares, Warrants or
other securities of Equinox Gold.
A copy of the early warning report filed by
Yamana will be available under Equinox’s profile on SEDAR at
www.sedar.com or by contacting Sofia Tsakos, Senior Vice President,
General Counsel and Corporate Secretary at 416-815-0220. Yamana’s
head office is located at Royal Bank Plaza, North Tower, 200 Bay
Street, Suite 2200, Toronto, ON, M5J 2J3 and Equinox’s head office
is located at Suite 1501 - 700 West Pender Street Vancouver, BC V6C
1G8.
About Yamana
Yamana is a Canadian-based precious metals
producer with significant gold and silver production, development
stage properties, exploration properties, and land positions
throughout the Americas including Canada, Brazil, Chile and
Argentina. Yamana plans to continue to build on this base
through expansion and optimization initiatives at existing oepating
mine, development of new mines, the advancement of its exploration
properties and, at times, by targeting other gold consolidation
opportunities with a primary focus in the Americas.
FOR FURTHER INFORMATION PLEASE CONTACT: Investor
Relations416-815-02201-888-809-0925Email:
investor@yamana.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS: This news release contains or
incorporates by reference “forward-looking statements” and
“forward-looking information” under applicable Canadian securities
legislation within the meaning of the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
information includes, but is not limited to information with
respect to the Company’s strategy, plans and objectives, including
the Company’s expectations in connection with the sale or purchase
of additional common shares of Equinox in the future, on the open
market or in private transactions; Yamana’s plans to continue to
build on its asset base through expansion and optimization
initiatives at existing oepating mine, development of new mines,
the advancement of its exploration properties and, at times, by
targeting other gold consolidation opportunities with a primary
focus in the Americas. Forward-looking statements are characterized
by words such as “plan,” “expect”, “budget”, “target”, “project”,
“intend”, “believe”, “anticipate”, “estimate” and other similar
words, or statements that certain events or conditions “may” or
“will” occur. Forward-looking statements are based on the opinions,
assumptions and estimates of management considered reasonable at
the date the statements are made, and are inherently subject to a
variety of risks and uncertainties and other known and unknown
factors that could cause actual events or results to differ
materially from those projected in the forward-looking
statements. These factors include market conditions as well
as those risk factors discussed or referred to herein and in the
Company's Annual Information Form filed with the securities
regulatory authorities in all provinces of Canada and available at
www.sedar.com, and the Company’s Annual Report on Form 40-F
filed with the United States Securities and Exchange
Commission. Although the Company has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. The Company undertakes no obligation to update
forward-looking statements if circumstances or management’s
estimates, assumptions or opinions should change, except as
required by applicable law. The reader is cautioned not to place
undue reliance on forward-looking statements. The forward-looking
information contained herein is presented for the purpose of
assisting investors in understanding the Company’s expected plans
and objectives and may not be appropriate for other
purposes.
Yamana Gold (TSX:YRI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Yamana Gold (TSX:YRI)
Historical Stock Chart
From Apr 2023 to Apr 2024