Yamana Gold Inc.
Meridian Gold Inc.
TORONTO, Dec. 20 /CNW/ - MERIDIAN GOLD INC. (TSX:MNG)(NYSE: MDG) and
YAMANA GOLD INC. (TSX:YRI)(NYSE: AUY)(LSE:YAU) today announced that Meridian
has received shareholder approval relating to the completion of the plan of
arrangement under which Yamana will acquire the remaining approximate 10
percent of Meridian common shares.
The remaining Meridian shares will be acquired for the same consideration
as the previous offer of C$7.00 cash plus 2.235 Yamana common shares for each
The transaction is expected to become effective on December 31, 2007,
followed by the delisting of Meridian common shares from the Toronto Stock
Exchange and the New York Stock Exchange during the week of January 1, 2008.
Meridian shareholders who have not yet delivered their Meridian share
certificate(s) and a letter of transmittal to CIBC Mellon Trust Company in
Toronto, Ontario must do so in order to receive the consideration the
shareholder is entitled to following the effective date of the transaction.
Cheques and Yamana share certificates will be sent to all shareholders who
have delivered their Meridian share certificate(s) and a letter of transmittal
to CIBC Mellon Trust Company in Toronto, Ontario following the effective date
of the transaction.
Yamana is a Canadian gold producer with significant gold production, gold
development stage properties, exploration properties, and land positions in
Brazil, Argentina, Chile, Mexico, Central America and the United States.
Yamana is producing gold at intermediate company production levels in addition
to significant copper and silver production. Company management plans to
continue to build on this base through existing operating mine expansions and
throughput increases, the advancement of its exploration properties and by
targeting other gold consolidation opportunities in Brazil, Argentina and
elsewhere in the Americas. For further information regarding the delivery of
share certificates and letter of transmittal, contact:
CIBC Mellon Trust Company
By Mail By Courier
P.O. Box 1036 199 Bay Street
Adelaide Street Postal Station Commerce Court West,
Toronto, Ontario Securities Level
M5K 2K4 Toronto, Ontario
Tel: (416) 643-5500 or Toll-free: 1-800-387-0825
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended and "forward-looking
information" under applicable Canadian securities laws. Except for statements
of historical fact relating to the company, certain information contained
herein constitutes forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect," "project,"
"intend," "believe," "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These factors include possible variations in ore grade or recovery
rates, fluctuating metal prices, prices for sulphuric acid and currency
exchange rates, changes in project parameters, the possibility of project cost
overruns or unanticipated costs and expenses and general risks of the mining
industry, failure of plant, equipment or processes to operate as anticipated,
unexpected changes in mine life of Chapada, availability of a local market for
the sale of sulphuric acid, as well as those risk factors discussed or
referred to in the Company's annual Management's Discussion and Analysis and
Annual Information Form filed with the securities regulatory authorities in
all provinces of Canada and available at www.sedar.com, and the Company's
Annual Report on Form 40-F filed with the United States Securities and
Exchange Commission. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be anticipated,
estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if circumstances
or management's estimates or opinions should change. The reader is cautioned
not to place undue reliance on forward-looking statements.
For further information:
For further information: Yamana Gold Inc., Jodi Peake, Vice President,
Public & Investor Relations, (416) 815-0220, Email: firstname.lastname@example.org,
Website: www.yamana.com; or MEDIA CONTACT: Mansfield Communications Inc., Hugh
Mansfield, (416) 599-0024