VANCOUVER, BC, Aug. 9, 2023
/CNW/ - Lundin Gold Inc. (TSX: LUG); (Nasdaq Stockholm:
LUG); (OTCQX: LUGDF) ("Lundin Gold" or the "Company") is
pleased to announce that its Board of Directors has declared a
quarterly cash dividend of US$0.10
per common share. The dividend will be payable on
September 26, 2023, to shareholders
of record at the close of business on September 11, 2023. This dividend qualifies as an
"eligible dividend" for Canadian income tax purposes. PDF
Version
Based on today's closing price of the Company's common shares on
the Toronto Stock Exchange ("TSX") of
CAD$16.78, this dividend of
US$0.10 per common share represents
an estimated annual yield of approximately 3.2%.1
Dividends for shares trading on the TSX and the OTCQX will be
paid in Canadian dollars on September 26, 2023, based on the
prevailing exchange rate at the record date. Dividends for
shares trading on Nasdaq Stockholm will be paid in Swedish kronor
(SEK) in accordance with Euroclear principles on September 29,
2023. To execute the payment of the dividend, a temporary
administrative cross-border transfer closure will be applied by
Euroclear from September 7, 2023 up to and
including September 11, 2023 during which period shares
of the Company cannot be transferred between TSX and Nasdaq
Stockholm. Payments to shareholders who are not residents
of Canada will be net of any Canadian withholding taxes
that may be applicable. For further details, please visit:
www.lundingold/investors/dividends.
About Lundin Gold
Lundin Gold, headquartered in
Vancouver, Canada, owns the Fruta
del Norte gold mine in southeast Ecuador. Fruta del Norte is among the
highest-grade operating gold mines in the world.
The Company's board and management team have extensive expertise
in mine operations and are dedicated to operating Fruta del Norte
responsibly. The Company operates with transparency and in
accordance with international best practices. Lundin Gold is committed to delivering value to
its shareholders, while simultaneously providing economic and
social benefits to impacted communities, fostering a healthy and
safe workplace and minimizing the environmental impact. The Company
believes that the value created through the development of Fruta
del Norte will benefit its shareholders, the Government and the
citizens of Ecuador.
Additional Information
The information in this release is subject to the disclosure
requirements of Lundin Gold under
the EU Market Abuse Regulation. This information was publicly
communicated on August 9, 2023 at
5:00 p.m. Pacific Time through the
contact persons set out below.
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1 Estimated
yield has been calculated using today's CAD$ to US$ exchange rate
of 1.3431 as provided by the Bank of Canada.
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Caution Regarding Forward-Looking Information and
Statements
Certain of the information and statements in this press release
are considered "forward-looking information" or "forward-looking
statements" as those terms are defined under Canadian securities
laws (collectively referred to as "forward-looking statements").
Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
identified by words or phrases such as "believes", "anticipates",
"expects", "is expected", "scheduled", "estimates", "pending",
"intends", "plans", "forecasts", "targets", or "hopes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "will",
"should" "might", "will be taken", or "occur" and similar
expressions) are not statements of historical fact and may be
forward-looking statements. By their nature, forward-looking
statements and information involve assumptions, inherent risks and
uncertainties, many of which are difficult to predict, and are
usually beyond the control of management, that could cause actual
results to be materially different from those expressed by these
forward-looking statements and information. Lundin
Gold believes that the expectations reflected in this
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be correct.
Forward-looking information should not be unduly relied upon. This
information speaks only as of the date of this press release, and
the Company will not necessarily update this information, unless
required to do so by securities laws.
This press release contains forward-looking information in a
number of places, such as in statements relating to the Company's
declaration and payment of dividends pursuant to its dividend
policy and the estimated annual yield. There can be no assurance
that such statements will prove to be accurate, as Lundin
Gold's actual results and future events could differ
materially from those anticipated in this forward-looking
information as a result of the factors discussed in the "Risk
Factors" section in Lundin Gold's Annual Information Form
dated March 31, 2023, which is
available at www.lundingold.com or on SEDAR.
Lundin Gold's actual results
could differ materially from those anticipated. Factors that could
cause actual results to differ materially from any forward-looking
statement or that could have a material impact on the Company or
the trading price of its shares include: risks related to political
and economic instability in Ecuador; risks associated with the Company's
community relationships; risks related to estimates of production,
cash flows and costs; risks inherent to mining operations;
shortages of critical supplies; the cost of non-compliance and
compliance costs; control of the Company's largest shareholders;
volatility in the price of gold; failure of the Company to maintain
its obligations under its debt facilities; risks related to
Lundin Gold's compliance with
environmental laws and liability for environmental contamination;
the lack of availability of infrastructure; the Company's reliance
on one mine; security risks to the Company, its assets and its
personnel; risks related to illegal mining; exploration and
development risks; the impacts of a pandemic virus outbreak; risks
related to the Company's ability to obtain, maintain or renew
regulatory approvals, permits and licenses; uncertainty with and
changes to the tax regime in Ecuador; the reliance of the Company on its
information systems and the risk of cyber-attacks on those systems;
the imprecision of Mineral Reserve and Resource estimates;
deficient or vulnerable title to concessions, easements and surface
rights; inherent safety hazards and risk to the health and safety
of the Company's employees and contractors; risks related to the
Company's workforce and its labour relations; key talent
recruitment and retention of key personnel; volatility in the
market price of the Company's shares; measures to protect
endangered species and critical habitats; social media and
reputation; the adequacy of the Company's insurance; risks relating
to the declaration of dividends; uncertainty as to reclamation and
decommissioning; the ability of Lundin
Gold to ensure compliance with anti-bribery and
anti-corruption laws; the uncertainty regarding risks posed by
climate change; limits of disclosure and internal controls; the
potential for litigation; and risks due to conflicts of
interest.
SOURCE Lundin Gold Inc.