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Newmont Announces Investment in Orosur Mining

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Newmont Announces Investment in Orosur Mining

 

 

 

 

 

Newmont Mining Corporation (NYSE: NEM) today announced that the Company has entered into a subscription agreement pursuant to which it purchased 29,213,186 common shares of Orosur Mining Inc. at a price of C$0.091 per Common Share for total consideration of US$2,000,000 (or C$2,658,400  based on an exchange rate of US$1 = C$1.3292).

 

 

Prior to completion of the Private Placement, Newmont did not own any Common Shares. Following completion of the Private Placement, Newmont beneficially owns 29,213,186 Common Shares, representing approximately 19.9% of the issued and outstanding Common Shares.

 

 

Terms of the Subscription Agreement include Newmont’s right to participate in future equity issuance to maintain its ownership stake in Orosur, and restrictions on Newmont acquiring more than 19.9% of Orosur’s outstanding voting securities, each for a period of five years following closing.

 

 

Newmont acquired the Common Shares for investment purposes. Newmont will evaluate its investment in Orosur from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease shareholdings as circumstances require, subject to the terms of the Subscription Agreement.

 

 

A copy of the early warning report filed by Newmont in connection with the acquisition will be available on Orosur’s SEDAR profile. In order to obtain a copy of the early warning report, please contact Jessica Largent, Vice President, Investor Relations at Newmont, at telephone number: 303-837-5484 or e-mail at jessica.largent@newmont.com.

 

Newmont’s head office is located at 6363 South Fiddler’s Green Circle, Suite 800, Greenwood Village, CO 80111.

 

 

About Newmont

 

 

Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015, 2016 and 2017. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.

 

Posted September 10, 2018

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