Kinross acquires 94.29% of Aurelian
2008-09-30 09:08 ET - News Release
Also News Release (C-ARU) Aurelian Resources Inc
Mr. Steve Mitchell of Kinross reports
KINROSS NOW OWNS OVER 94% OF AURELIAN
Kinross Gold Corp. has acquired an additional 5,412,884 common shares of Aurelian Resources Inc. under Kinross's previously announced offer to acquire all of the issued and outstanding common shares of Aurelian. Kinross now owns 144,102,344 common shares of Aurelian, representing approximately 94.29 per cent of its issued and outstanding common shares (and approximately 93.67 per cent, excluding the 15 million shares acquired by Kinross prior to the offer).
Kinross made its offer on July 28, 2008, when it mailed a takeover bid circular to the shareholders of Aurelian. The deposit period under the offer expired at 11:59 p.m. (Toronto time) on Sept. 29, 2008. Kinross will now exercise its statutory rights under the Canada Business Corporations Act to compulsorily acquire the remaining common shares of Aurelian that have not been deposited to the offer. Upon completion of the compulsory acquisition, Kinross intends to apply to delist the common shares of Aurelian from the Toronto Stock Exchange and to apply to securities regulatory authorities for Aurelian to cease to be a reporting issuer.
Kinross has issued approximately 40.9 million additional common shares and approximately 18.5 million additional warrants as a result of taking up and paying for the Aurelian shares validly deposited to the offer since the prior expiry date of Sept. 15, 2008. Upon completion of the compulsory acquisition, Kinross expects to have issued a total of approximately 43.5 million common shares and 19.6 million warrants in respect of all of the issued and outstanding common shares of Aurelian.
Kinross has also agreed to make a joint tax election with certain holders of common shares of Aurelian within 90 days after the expiry time of the offer. The deadline for providing the requisite tax information to Kinross is Dec. 29, 2008. Details regarding the tax election are contained in the offer documents.
We seek Safe Harbor.
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