Newmont Completes Sale of Triple Flag Shares

About this update from Newmont Corporation

[{"type":"text","content":"DENVER / Mar 29, 2023 / Business Wire / Newmont Corporation (NYSE: NEM, TSX: NGT) today announced it completed the sale of its common shares of Triple Flag Precious Metal Corp. (Triple Flag) on the open market for $179 million in net proceeds, after tax. The monetization of Triple Flag’s shares further streamlines and optimizes Newmont’s equity portfolio, while generating cash for the business at fair value. Since the completion of the Goldcorp acquisition in 2019, Newmont has received more than $2 billion in cash proceeds from the sale of non-core assets as part of its strategy to maximize value for shareholders and other stakeholders. These proceeds further strengthen Newmont’s investment-grade balance sheet, enabling the Company to maintain a flexible financial position throughout the commodity price cycle with a clear focus on maintaining a world-class portfolio of long-life, responsibly managed assets located in top-tier jurisdictions. Newmont’s equity interest in Triple Flag originated through the formation of a strategic partnership with Maverix Metals Inc. (Maverix) in 2018. Following the Goldcorp acquisition, Newmont sold additional royalties to Maverix in 2020, which resulted in Newmont owning 42.0 million common shares of Maverix and 5.0 million purchase warrants. In January 2023, Triple Flag completed the acquisition of Maverix, and Newmont received 15.1 million common shares and 1.8 million purchase warrants of the combined company. Prior to the completion of the sale, Newmont held approximately 7.5 percent of the issued and outstanding common shares of Triple Flag for investment purposes. Cautionary Statement This release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Forward-looking statements may be accompanied by terminology such as “will”, “would” or comparable terminology. Forward-looking statements provide the Company’s expectations about future events, such as regarding the potential future exercise of warrants and future capital allocation, financial strength and flexibility and returns to shareholders. Forward-looking statements are not guarantees and involve certain risks, uncertainties and assumptions, which may cause actual results to differ. The Company does not undertake any obligation to release publicly r...

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