VANCOUVER, July 20, 2012 /CNW/ - Newmont Canada Holdings ULC
("Newmont"), a subsidiary of Newmont Mining Corporation, announced
today that it has acquired 2,230,000 units of West Kirkland Mining Inc.
("West Kirkland") at a price of Cdn$0.35 per unit for aggregate gross
proceeds to West Kirkland of Cdn.$780,500. Each unit consists of one
common share ("Common Share") and one-half of one common share purchase
warrant ("Warrant"). Each Warrant entitles the holder to acquire one
Common Share at a price of Cdn$0.60 for a period of 18 months from the
date of the Warrant.
After giving effect to the private placement, Newmont beneficially owns
and controls approximately 5,244,731 Common Shares (including 3,763,154
Common Shares, 1,115,000 Common Shares issuable upon exercise of the
Warrants issued to Newmont and 366,577 Common Shares issuable upon
exercise of warrants previously issued to Newmont) or approximately
13.40% of the outstanding Common Shares (calculated based on 39,134,913
current outstanding Common Shares, including 1,115,000 Common Shares
issuable upon exercise of Warrants issued to Newmont and 366,577 Common
Shares issuable upon exercise of warrants previously issued to Newmont,
but specifically excluding any Common Shares issuable upon exercise of
warrants issued to parties other than Newmont).
The Common Shares were issued pursuant to the terms of a subscription
agreement and reliance is made upon the exemption noted in Section 2.3
of National Instrument 45-106 - Prospectus and Registration Exemptions.
The Common Shares were acquired for investment purposes. In the future,
Newmont and its affiliates may increase or decrease their ownership in
the securities of West Kirkland depending on the business and prospects
of West Kirkland as well as market conditions.
SOURCE Newmont Canada Holdings ULC
For further information:
Further information (including a copy of the report to be filed with Canadian securities regulators in connection with this transaction) can be obtained by contacting:
Newmont Canada Holdings ULC
925 West Georgia Street, Suite 1600
Vancouver, BC V6C 3L2
David Faley - 303.863.7414
John Seaberg - 303.863.5743
Omar Jabara - 303.837.5114