Centerra Gold completes acquisition of AuRico Metals
Tuesday, Jan 09, 2018
Centerra Gold Inc. and AuRico Metals Inc. has announced that they have completed their previously announced plan of arrangement, pursuant to which a direct wholly-owned subsidiary of Centerra (the "Purchaser") acquired all of the issued and outstanding common shares of AuRico Metals for C$1.80 in cash consideration per share (the "Purchase Price"). The Purchase Price was funded through a combination of a new US$125 million acquisition facility and cash on hand of Centerra.

Scott Perry, President and CEO of Centerra said, "With the completion of the acquisition of AuRico Metals, we have expanded our existing development pipeline to include a de-risked brownfield development asset, located in Canada, as well, we are adding a high-quality, free-cash flow generating royalty portfolio. The Kemess property has the potential to be a low-cost, long life, significant gold and copper producer."

Centerra intends to cause the AuRico Metals common shares to cease to be listed on the Toronto Stock Exchange and to cause AuRico Metals to submit an application to cease to be a reporting issuer as soon as possible.

Immediately following the completion of the Arrangement, the Purchaser (a wholly-owned Centerra subsidiary) and AuRico Metals amalgamated, with the amalgamated company continuing to use the name "AuRico Metals Inc."

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