TORONTO, July 18, 2018 /CNW/ - Earlier this morning, Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") notified the Ontario Securities Commission (the "OSC") of concerning and unlawful behavior undertaken by Paulson and Co. ("Paulson") and has asked the OSC to investigate. This action took place prior to Paulson's ill-timed press release this afternoon.
Paulson, in a desperate attempt to resuscitate its flailing reputation in the mining industry, has once again misinformed the investment community. This is not the first time, unfortunately, that Paulson has done so. Over the past several weeks, Paulson has run an aggressive and self-serving agitation campaign against Detour Gold with the sole objective of bullying the Company into an ill-timed fire sale.
The Company does not have a sale process in place nor has it received any offers to purchase its shares and remains focused on the life of mine plan, while remaining open (as it has been historically) to value accelerating opportunities.
Earlier this morning, Detour Gold made a complaint to the OSC about Paulson's continued misleading statements. The Company believes Paulson's actions constitute serious misconduct under securities laws.
Statements made by Paulson in its press release are simply false and mislead the market. It is in fact Paulson's own actions that led them to come into possession of material non-public information from another party. These actions are part of Detour Gold's complaint to the OSC.
About Detour Gold
Detour Gold is an intermediate gold producer in Canada that holds a 100% interest in the Detour Lake mine, a long life large-scale open pit operation. Detour Gold's shares trade on the Toronto Stock Exchange under the trading symbol DGC.
For further information, please contact:
Executive Vice President, Communication Strategy
Shareholder and Investor Contact:
Laurie Gaborit, VP Investor Relations
Detour Gold Corporation, Commerce Court West, 199 Bay Street, Suite 4100, P.O. Box 121, Toronto, Ontario M5L 1E2
SOURCE Detour Gold
For further information: Media Contact: Ian Robertson, Executive Vice President, Communication Strategy, Kingsdale Advisors, Direct: 416-867-2333, Cell: 647-621-2646, Email: firstname.lastname@example.org; Shareholder and Investor Contact: Laurie Gaborit, VP Investor Relations, Tel: 416-304-0581, Email: email@example.com; Detour Gold Corporation, Commerce Court West, 199 Bay Street, Suite 4100, P.O. Box 121, Toronto, Ontario M5L 1E2