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BRIEF-Kirkland Lake Gold creates an Ontario-focused intermediate gold producer with acquisition of St Andrew

Published 2015-11-16, 05:49 p/m
© Reuters.  BRIEF-Kirkland Lake Gold creates an Ontario-focused intermediate gold producer with acquisition of St Andrew
KL
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Nov 16 (Reuters) - Kirkland Lake Gold Inc KGI.TO :
* Creates an Ontario-focused intermediate gold producer with the acquisition of
St Andrew
* Says exchange ratio implies a total equity value of approximately C$178
million on a fully diluted in-the-money basis
* Common shareholders of St Andrew will receive 0.0906 of one common share of
Kirkland Lake for each St Andrew common share held
* Deal is immediately accretive to production, net asset value and cash flow on
a per share basis
* Says upon completion of proposed deal, existing Kirkland Lake and St Andrew
shareholders will own about 71%, 29% of combined co
* Upon completion of deal,one mutually acceptable nominee of St Andrew will be
appointed to the board of directors of Kirkland Lake
* Combined entity is expected to produce 260-310 koz gold in 2016 with
attractive cash costs between $600-690/oz gold

* Source text for Eikon ID:nCCN9nM15Y
* Further company coverage KGI.TO

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