Dec 2 (Reuters) - Continental Gold Inc CNL.TO :
* ZIJIN MINING TO ACQUIRE CONTINENTAL GOLD IN FRIENDLY, ALL-CASH OFFER FOR C$1.4 BILLION
* CONTINENTAL GOLD - ZIJIN HAS AGREED TO ACQUIRE SHARES OF CONTINENTAL AT A PRICE OF C$5.50 PER SHARE IN CASH
* CONTINENTAL GOLD INC - TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY BOARD OF DIRECTORS OF CONTINENTAL
* CONTINENTAL GOLD INC - ALL-CASH OFFER IS NOT SUBJECT TO A FINANCING CONDITION
* CONTINENTAL GOLD INC - ZIJIN HAS AGREED TO PROVIDE CONTINENTAL WITH US$50 MILLION BY SUBSCRIBING FOR CONVERTIBLE DEBENTURES
* CONTINENTAL GOLD INC - TERM OF ZIJIN DEBENTURES WILL BE 5 YEARS WITH A 5% INTEREST RATE, PAYABLE SEMI-ANNUALLY IN ARREARS.
* CONTINENTAL GOLD - ZIJIN WOULD BE ENTITLED TO $35 MILLION TERMINATION FEE, CONTINENTAL WOULD BE ENTITLED TO $35 MILLION REVERSE TERMINATION FEE