Yamana Gold Announces Filing of Early Warning Report in Connection With Closing of Leagold’s Acquisition of Brio Gold
May 25 2018 - 4:17PM
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 acquisition (the “Transaction”) by Leagold
Mining Corporation (“Leagold”) of Brio Gold Inc. (“Brio Gold”).
Upon completion of the Transaction, Yamana
received an aggregate of 58,115,953 common shares of Leagold
(“Leagold Shares”) and 25,212,995 common share purchase Warrants of
Leagold (“Warrants”) in exchange for its Brio Gold shares,
representing approximately 20.65% of the issued and outstanding
Leagold Shares on a non-diluted basis and approximately 27.17% of
the issued and outstanding Leagold Shares on a partially-diluted
basis, assuming the exercise of the Warrants held by Yamana. Prior
to the Arrangement, Yamana did not hold any Leagold Shares or
convertible securities of Leagold. Each Warrant entitles the holder
thereof to purchase one Leagold Share at a price of $3.70 for a
period of two years following completion of the Arrangement.
In connection with the Transaction, Yamana has
agreed to hold the Leagold Shares and any Leagold Shares issuable
upon exercise of the Warrants it received pursuant to the
Transaction for a minimum period of 12 months, subject to certain
customary exceptions. While Yamana currently has no plans or
intentions with respect to the Leagold securities, subject to the
terms of the Support Agreement, depending on market conditions,
general economic and industry conditions, trading prices of
Leagold’s securities, Leagold’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
Leagold Shares, Warrants or other securities of Leagold.
A copy of the early warning report filed by
Yamana will be available under Leagold’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 Leagold’s head office
is located at 595 Burrard Street, Suite 3042, PO Box 49152, Three
Bentall, Vancouver, BC, V7X 1J1.
About Yamana
Yamana is a Canadian-based gold producer with
significant gold production, gold development stage properties,
exploration properties, and land positions throughout the Americas
including Brazil, Argentina, Chile, and Canada. Yamana plans
to continue to build on this base through existing operating mine
expansions, throughput increases, 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 Leagold in the future, on the open
market or in private transactions; Yamana’s plans to continue to
build on its asset base through existing operating mine expansions,
throughput increases, 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.
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