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BRIEF-Newmont Mining Corp to invest approximately U.S.$109 mln for 19.9 pct ownership of Continental Gold Inc

Published 2017-05-11, 06:12 a/m
© Reuters.  BRIEF-Newmont Mining Corp to invest approximately U.S.$109 mln for 19.9 pct ownership of Continental Gold Inc
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May 11 (Reuters) - Continental Gold Inc CNL.TO :

* Newmont Mining (NYSE:NEM) Corp- announced an agreement to invest approximately U.S.$109 million for 19.9 percent ownership of Continental Gold Inc

* Newmont Mining - agreed to purchase 37.38 million common shares of continental in a non-brokered private placement at a price of C$4.00 per share.

* Newmont Mining Corp- terms of investment agreement include Newmont's right to participate in future equity issuance to maintain its ownership stake

* Newmont Mining Corp- terms of investment agreement include Newmont holding a seat on continental's board of directors

* Newmont Mining - terms of agreement include two cos establishing joint technical and sustainability committees and strategic exploration alliance Source text for Eikon: ID:nBw9cLZTHa Further company coverage: CNL.TO

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