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Kinross Gold Announces ownership of Shares of Allegiant Gold
(All dollar amounts are expressed in Canadian dollars, unless otherwise noted.) TORONTO, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (“Kinross”
About this update from Kinross Gold Corporation
[{"type":"text","content":" (All dollar amounts are expressed in Canadian dollars, unless otherwise noted.) TORONTO, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (“Kinross” or the “Company”) (TSX: K, NYSE: KGC) announced today that it has acquired deemed beneficial ownership of 5,018,017 common shares of Allegiant Gold Ltd. (“Allegiant”) issuable upon exercise of common share purchase warrants previously acquired by Kinross. The warrants were acquired as part of the previously announced investment in Allegiant completed on March 17, 2022. Pursuant to the investment, Kinross purchased 10,036,034 units of Allegiant, representing 9.9% of the issued and outstanding shares of Allegiant. Each unit was comprised of one common share and one-half of one common share purchase warrant (each, a “Unit”, and collectively, the “Units”). The Units were acquired for a purchase price of $0.40 per Unit, representing an aggregate purchase price of $4,014,414.00. The common shares held represent approximately 9.8% of the currently issued and outstanding Allegiant common shares and the Warrants provide deemed beneficial ownership of common shares representing approximately 4.7% of the currently issued and outstanding Allegiant common shares. Accordingly, as of today Kinross is the deemed beneficial owner of common shares representing approximately 14.0% of the issued and outstanding shares of Allegiant and is therefore required by applicable Canadian securities laws to issue this press release and file a corresponding early warning report. Kinross acquired the Units as part of a strategic investment in the Issuer. Kinross may or may not purchase or sell securities of the Issuer in the future on the open market or in private transactions, depending on market conditions and other factors. Kinross currently has no other plans or intentions that relate to its investment in the Issuer. Depending on market conditions, general economic and industry conditions, the Issuer’s business and financial condition and/or other relevant factors, Kinross may develop other plans or intentions in the future. A copy of the early warning report filed by Kinross in connection with the investment will be available on Allegiant’s profile on SEDAR at www.sedar.com. Alternatively, you may contact Luke Crosby, Vice President, Assistant General Counsel and Corporate Secretary at 647-788-4478...