Media has recently reported that Kinross Gold Corporation has completed the mailing of the takeover bid circular and related offer documents in respect of its offer to acquire all of the outstanding common shares of Aurelian Resources Inc. that it does not already own, on the basis of 0.317 of a Kinross common share and 0.1429 of a Kinross warrant for each Aurelian share to holders of Aurelian shares and holders of options of Aurelian. The offer expires at 6:00 p.m. (Toronto time) on September 3, 2008. Kinross has also filed copies of the formal offer documents with Canadian and United States securities regulators.
Kinross also announced that it had completed today the purchase of a previously-announced purchase of 15 million Aurelian shares on a private placement basis at a total subscription price of C$71.25 million, representing approximately 9.9% of the outstanding Aurelian shares. The purchase of the private placement shares represents a strategic investment in Aurelian irrespective of the outcome of the offer to acquire the balance of the Aurelian shares.
Kinross is a Canadian-based gold mining company with mines in the United States, Brazil, Russia and Chile, and employs approximately 5,000 people worldwide. Kinross’ strategic focus is to maximize net asset value and cash flow per share through a four-point plan built on: generating growth from core operations; expanding capacity for the future; attracting and retaining the best people in the industry; and driving new opportunities through exploration and acquisition. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).
Kinross Gold Corporation
Steve Mitchell, Director, Corporate Communications
Source: Kinross Gold Corporation