Eldorado Gold Announces the Initiation of an At-the-Market Equity Program

About this update from Eldorado Gold Corporation

[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) announces that the Company has established an at-the-market equity program (the “ATM Program”). The ATM Program will allow the Company to issue up to US$125 million worth of common shares from treasury (“Common Shares”) to the public from time to time at prevailing market prices through the Toronto Stock Exchange, the New York Stock Exchange or any other marketplace on which the Common Shares are listed, quoted or otherwise trade. The volume and timing of distributions under the ATM Program, if any, will be determined at the Company’s sole discretion, subject to applicable regulatory limitations. Sales of Common Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated September 26, 2019 entered into among the Company, BMO Nesbitt Burns Inc., as Canadian agent, and BMO Capital Markets Corp., as U.S. agent. The ATM Program will be effective until September 26, 2021, unless all Common Shares available for issue under the ATM Program have been issued or the ATM Program is terminated prior to such date by the Company or the agents.    Eldorado intends to use the net proceeds from the ATM Program, if any, for funding: Potential capital investments at Kişladağ for waste stripping and heap leach pad expansion, subject to ongoing metallurgical heap leach testwork; Potential capital investments at Lamaque for expansion from 1,800 tonnes per day (“tpd”) to 2,500 tpd; Potential engineering and permitting expenses and minor enabling construction to support the re-start of construction at Skouries; Potential engineering and Environmental Impact Assessment permitting expenses at Perama Hill; Potential engineering and permitting expenses to expand Olympias from 1,200 tpd to 1,900 tpd; Repayment of indebtedness; and/or General corporate purposes. The Company has filed a prospectus supplement dated September 26, 2019 (“Prospectus Supplement”) to its base shelf prospectus dated August 26, 2019 (“Base Shelf Prospectus”) with each of the securities regulatory authorities in all provinces of Canada, and has filed a registration statement on Form F-10 (including a prospectus) and a prospectus supplement with the United States Securities and Exchange Commission (the “SEC”) ...

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