TORONTO, Aug. 29, 2018 /CNW/ - Detour Gold
Corporation (TSX: DGC) ("Detour Gold" or the "Company")
corrects false assertions made by Paulson & Co. ("Paulson") on
August 28, 2018 regarding the
Company's director and officer shareholdings.
Paulson & Co. ("Paulson"), through its principal
spokesperson Marcelo Kim, has
established a record of being impulsive and inexperienced. On
August 28, 2018, Paulson, we believe
knowingly, defamed the Company by providing false information to
the market on director and officer share ownership and ignoring the
cost of exercising the options.
Examples that immediately call into question Paulson's
credibility, either because of its inability to understand basic
financial information or its willingness to knowingly mislead:
- Mr. Kenyon actually increased his shareholdings by 7,073 shares
(from 72,500 to 79,573 shares) when he exercised the 90,000 stock
options which were expiring. The shares he sold were sold to cover
the exercise price and tax liability.
- Mr. Robert Doyle has not sold a
share. Paulson incorrectly informed the market of its assumption
that Mr. Doyle exercised and then sold his shares. This is false.
Mr. Doyle exercised his options which were expiring, paying for the
cost of such exercise, and has not sold a single share.
- Although Mr. Rubenstein sold the shares acquired on the
exercise of his stock options, the proceeds to him before tax
(after paying the exercise price) were only $19,620. Paulson overstates Mr. Rubenstein's
proceeds by almost $100,000.
Marcelo Kim and Paulson are
willing to say and do anything to prop up their failing activist
campaign. A retraction of their false statements is in order.
Shareholders have a clear choice between an inexperienced and
impulsive Paulson activist fund whose very involvement with Detour
Gold is destroying value, and an experienced and responsible Board
and Management team committed to uncovering strategic opportunities
and executing on the life of mine plan.
Advisors
The Company has retained Kingsdale Advisors as its strategic
shareholder and communications advisor, BMO Capital Markets as its
financial advisor, and McCarthy Tétrault LLP and Norton Rose
Fulbright LLP as its legal advisors.
About Detour Gold
Detour Gold is an intermediate gold producer in Canada that holds a 100% interest in the
Detour Lake mine, a long life large-scale open pit operation.
Detour Gold's shares trade on the Toronto Stock Exchange under the
trading symbol DGC.
For further information, please contact:
Media Contact:
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Shareholder and
Investor Contact:
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Ian
Robertson
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Laurie Gaborit, VP
Investor Relations
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Executive Vice
President, Communication Strategy
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Detour Gold
Corporation
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Kingsdale
Advisors
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Tel:
416-304-0581
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Direct:
416-867-2333
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Email:
lgaborit@detourgold.com
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Cell:
647-621-2646
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Email:
irobertson@kingsdaleadvisors.com
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Detour Gold Corporation, Commerce Court West, 199 Bay Street,
Suite 4100, P.O. Box 121, Toronto,
Ontario M5L 1E2
SOURCE Detour Gold