Kinross news - now has 94% of Aurelian
posted on
Sep 30, 2008 05:31AM
Third largest primary Gold Producer in North America
http://www.kinross.com/news/9302008-...
TORONTO, September 30, 2008 – Kinross Gold Corporation (TSX: K, NYSE:
KGC) is pleased to announce that it has acquired an additional 5,412,884 common
shares of Aurelian Resources Inc. (TSX: ARU) under Kinross’ 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% of its issued and outstanding common shares (and
approximately 93.67%, excluding the 15 million shares acquired by Kinross prior to
the offer).
Kinross made its offer on July 28, 2008 when it mailed a take-over bid circular to
the shareholders of Aurelian. The deposit period under the offer expired at 11:59
p.m. (Toronto time) on September 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 de-list
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
September 15, 2008. Upon completion of the compulsory acquisition, Kinross
expects to have issued an aggregate 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.