TSX-V: ICG; OTCQX: ICGQF
VANCOUVER, July 10, 2017 /CNW/ - Integra Gold Corp.
(TSX-V: ICG; OTCQX: ICGQF) ("Integra" or the
"Company") is pleased to announce the successful completion
of the plan of arrangement (the "Arrangement") by Eldorado
Gold Corporation ("Eldorado") (TSX: ELD; NYSE: EGO)
originally announced on May 15,
2017. The Arrangement was approved by the shareholders of
Integra at its special meeting on July 4,
2017 and received approval from the Supreme Court of
British Columbia on July 7, 2017.
Pursuant to the Arrangement, Integra shareholders will
collectively receive, for all the issued common shares of Integra
that Eldorado did not already own,
approximately CAD$129 million cash
and 77 million common shares of Eldorado (representing
approximately 10% of the total issued common shares of Eldorado,
post-completion of the Arrangement).
Integra will continue as a wholly-owned subsidiary of
Eldorado and Integra common shares
will be delisted from the TSXV as soon as practicable.
About Integra Gold
Integra Gold is a junior gold exploration company. The Company's
primary focus is its Lamaque project located in Val-d'Or, Québec, one of the top mining
jurisdictions in the world. In the fall of 2014, Integra completed
the accretive acquisition of the Sigma Mill and Mine Complex, a
fully permitted 2,200 ton per day mill and tailings facility. With
major federal and provincial permits in place, existing
infrastructure and significant exploration potential, this
acquisition removed major costs and shortened timelines typically
associated with mine projects. Integra has raised over $150 million since 2013, at successively higher
share prices, despite depressed gold prices.
About Eldorado
Eldorado is a leading
intermediate gold producer with mining, development and exploration
operations in Turkey, Greece, Romania, Brazil and Serbia. Eldorado's success to date is based on a
highly skilled workforce, safe and responsible operations, a
portfolio of high-quality assets, and long-term partnerships with
the communities where they operate.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release
Cautionary Note Regarding Forward-Looking Statements: Certain
disclosures in this release constitute forward-looking statements.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur", "be
achieved" or "has the potential to". Forward looking statements
contained in this release may include statements or information
with respect to the completed Arrangement, all of which involve
known and unknown risks and uncertainties which may not prove to be
accurate. In making the forward-looking statements in this release,
the Company has applied certain factors and assumptions that are
based on the Company's current beliefs as well as assumptions made
by and information currently available to the Company, including
that the Company is able to procure personnel, equipment and
supplies required for its exploration activities in sufficient
quantities and on a timely basis and that actual results of
exploration activities are consistent with management's
expectations. Although the Company considers these assumptions to
be reasonable based on information currently available to it, they
may prove to be incorrect, and the forward-looking statements in
this release are subject to numerous risks, uncertainties and other
factors that may cause future results to differ materially from
those expressed or implied in such forward-looking statements.
Among these risks and factors that may cause future results to
differ materially from those expressed or implied in such
forward-looking statements are the following: uncertainties
as to integration of, and plans respecting, the Company and
Eldorado following completion of
the Arrangement, market conditions and other risk factors listed
from time to time in the Company's continuous disclosure documents
filed with the Canadian securities regulators at
www.sedar.com. Readers are cautioned not to place
undue reliance on forward-looking statements. The Company does not
intend, and expressly disclaims any intention or obligation to,
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by law.
SOURCE Integra Gold Corp.
