Merger of Kirkland Lake Gold Inc. and Newmarket Gold Inc.
TORONTO, Dec. 2, 2016 /CNW/ - S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Kirkland Lake Gold Inc. (TSX:KLG) and Newmarket Gold Inc. (TSX:NMI) have agreed to the terms of an Arrangement Agreement whereby the two companies will merge under the name Kirkland Lake Gold Ltd.
S&P Dow Jones Indices will, for index purposes, consider Kirkland Lake Gold Inc. to be the surviving company following the transaction. The company will change its name to Kirkland Lake Gold Ltd. Newmarket Gold Inc. will be removed from the S&P/TSX SmallCap, the S&P/TSX Global Mining and the S&P/TSX Global Gold Indices after the close of trading on Monday, December 5, 2016. The number of shares outstanding of the new Kirkland Lake Gold Ltd. will be 202,289,000 and the IWF will be 0.89. The new Kirkland Lake Gold Ltd. (TSX ticker symbol KL, CUSIP 49741E 10 0) will remain a constituent of the S&P/TSX Composite and Capped Composite, the S&P/TSX Completion, the S&P/TSX Capped Materials, the S&P/TSX SmallCap, the S&P/TSX Global Mining, the S&P/TSX Global Gold and the S&P/TSX Equal Weight Global Gold Indices.
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SOURCE S&P Dow Jones Indices
For further information: Tony North, Director, Canadian Index Operations, S&P Dow Jones Indices, (+) 416 507 3204, [email protected]; David Blitzer, Managing Director and Chairman of the Index Committee, S&P Dow Jones Indices, (+) 212 438 3907, [email protected]