RTG Mining Inc. announces implementation of the schemes of arrangement

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[{"type":"text","content":"\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\n\nPERTH, Western Australia, June 4, 2014 /CNW/ - RTG Mining Inc. (TSX: RTG) (\"RTG\" or the \"Company\") is pleased to announce that it has completed the implementation of the schemes of arrangement (the \"Schemes\") pursuant to the terms of the previously-announced Scheme Implementation Deed dated February 24, 2014 (the \"Deed\") between the Company and Sierra Mining Limited (\"Sierra\") to acquire all of the outstanding securities of Sierra. \n\nPursuant to the Schemes, the Company acquired all of the outstanding shares of Sierra (\"Sierra Shares\") and all of the outstanding listed options of Sierra (\"Sierra Options\"), and issued as consideration:\n\n\n\n\n(a)  \n\n\nto eligible shareholders of Sierra, 3 new ordinary shares of RTG (\"RTG Shares\") for every 10 Sierra Shares held and 1 new share purchase option of the Company (\"RTG Option\")  for every 30 Sierra Shares held; and\n\n\n\n(b)  \n\n\nto eligible optionholders of Sierra, 2 RTG Shares for every 10 Sierra Options held and 2 RTG Options for every 90 Sierra Options held.\n\nThe Company also acquired all unlisted Sierra Options (\"Sierra Unlisted Options\"), and issued as consideration to such holders of Sierra Unlisted Options:\n\n\n\n\n(a)  \n\n\n1 RTG Share for every 10 Sierra Unlisted Options exercisable at $0.20 each on or before July 1, 2014, together with 1 RTG Option for every 90 Sierra Unlisted Options held; and\n\n\n\n(b)  \n\n\n1 RTG Share for every 20 Sierra Unlisted Options exercisable at $0.25 each on or before July 1, 2015, together with 1 RTG Option for every 180 Sierra Unlisted Options held.\n\nRTG also issued RTG Shares in connection with the Haywood Fee, as defined in the Circular dated April 8, 2014.  In total, the Company issued 79,063,206 RTG Shares and 8,784,854 RTG Options. \n\nThe Toronto Stock Exchange (the \"TSX\") has conditionally approved the listing of the RTG Options and the additional listing of RTG Shares.  In addition, RTG Shares and RTG Options (in the form of CDIs) are expected to begin trading on the Australian Securities Exchange (\"ASX\") as of June 5, 2014, under the trading symbols, \"RTG\" and \"RTGO\", respectively. \n\nThe Company will be led by a management team which holds the...

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