TSX-V: JAG
TORONTO, June 25, 2014 /CNW/ - Jaguar Mining Inc.
("Jaguar" or the "Company") (TSX-V: JAG) is pleased
to announce that shareholders voted in favor of all resolutions
considered before the Annual General and Special Meeting of
shareholders of the Company held on June 25,
2014 in Toronto, Ontario
(the "AGM").
At the AGM, shareholders elected all proposed
director nominees from the management slate, being Messrs.
George Bee, Richard D. Falconer, Edward V. Reeser, Luis
R. Miraglia, Stephen Hope,
Jared Hardner and Robert Chadwick, to serve as directors of the
Company for the ensuing year. Shareholders also passed ordinary
resolutions approving the re-appointment of KPMG LLP, Chartered
Accountants, as auditors of the Company for the ensuing year, the
ratification and confirmation of the Company's 10% rolling stock
option plan (the "Stock Option Plan"), the ratification and
confirmation of the Company's deferred share unit plan (the "DSU
Plan") and the ratification and confirmation of certain awards
of deferred share units and options under the DSU Plan and the
Stock Option Plan, respectively.
Further to the Company's press release dated
April 23, 2014, which described
certain amendments to the terms of Jaguar's US$30.0 million standby credit facility with
Global Resource Fund (the "Lender"), as governed by a credit
agreement made as of December 17,
2012 between Jaguar, its subsidiaries and the Lender (as
amended from time to time, the "Renvest Facility"), the
Lender has the right, from time to time, and subject to and in
accordance with the terms and conditions of the Renvest Facility,
to convert up to $5.0 million (the
"Conversion Amount") (which represents approximately 24.5%
of the currently outstanding principal amount of the Renvest
Facility) into common shares of Jaguar, until the business day
prior to the earlier of December 31,
2015 and the date on which all obligations owing under the
Renvest Facility are repaid. In connection with such right of
conversion, the Company is also announcing that pursuant to a
pricing notice received from the Lender on June 6, 2014, the conversion price in respect of
the Lender's right to convert the Conversion Amount will be the
greater of: (i) the quotient obtained by dividing US$200 million by the total number of issued and
outstanding common shares in the capital of Jaguar as of the date
of conversion (on a fully diluted basis); and (ii) CAD$0.91.
About Jaguar Mining Inc.
Jaguar is a junior gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais and owns the Gurupi
Project in Northern Brazil in the
state of Maranhão. The Company also owns additional mineral
resources at its approximate 210,000-hectare land base in
Brazil. Additional information is
available on the Company's website at www.jaguarmining.com.
SOURCE Jaguar Mining Inc.