Yamana Gold Inc.
February 15, 2013 - 08:00:37 PM
Yamana Reports Securityholdings of Trident Gold Resulting From a Qualifying
TORONTO, ONTARIO--(Marketwire - Feb. 15, 2013) - YAMANA GOLD INC.
(TSX:YRI)(NYSE:AUY)(LSE:YAU) ("Yamana" or "the Company") reports that in
connection with the completion of the qualifying transaction ("Qualifying
Transaction") of Trident Gold Corp. ("Trident"), formerly Andor Mining Inc.
("Andor"), the Company holds ownership and control over 3,822,814 common
shares ("Shares") and 2,915,503 warrants ("Warrants") of Trident, representing
approximately 11.38% of the issued and outstanding Shares of Trident and
18.46% after giving effect to the exercise of the Warrants. Yamana acquired
the securities pursuant to the transaction exemption in section 2.11 of
National Instrument 45-106 Prospectus and Registration Exemptions. The deemed
price per Share and Warrant was $0.06.
Pursuant to the Qualifying Transaction, Andor acquired all of the issued and
outstanding shares of Trident (the "Trident Shares"), with the former Trident
shareholders (including Yamana) receiving one (1) common share of Andor for
each 10.75 Trident Shares held.
Yamana has no current intention to acquire ownership or control over
additional securities of Trident. It is the intention of Yamana to evaluate
its investment in Trident on a continuing basis and such holdings may be
decreased or increased in the future.
Yamana is a Canadian-based gold producer with significant gold production,
gold development stage properties, exploration properties, and land positions
in Brazil, Argentina, Chile, Mexico and Colombia. Yamana plans to continue to
build on this base through existing operating mine expansions, throughput
increases, development of new mines, advancement of its exploration properties
and by targeting other gold consolidation opportunities with a primary focus
in the Americas.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release
contains "forward-looking statements" within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation. Except for statements of historical fact relating to
the Company, information contained herein constitutes forward-looking
statements, including any information as to the Company's strategy, plans or
future financial or operating performance. Forward-looking statements are
characterized by words such as "plan," "expect", "budget", "target",
"project", "intend," "believe", "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions, assumptions and
estimates of management considered reasonable at the date the statements are
made, and are inherently subject to a variety of risks and uncertainties and
other known and unknown factors that could cause actual events or results to
differ materially from those projected in the forward-looking statements.
These factors include the Company's expectations in connection with the
expected production and exploration, development and expansion plans at the
Company's projects discussed herein being met, the impact of proposed
optimizations at the Company's projects, the impact of the proposed new mining
law in Brazil and the impact of general business and economic conditions,
global liquidity and credit availability on the timing of cash flows and the
values of assets and liabilities based on projected future conditions,
fluctuating metal prices (such as gold, copper, silver and zinc), currency
exchange rates (such as the Brazilian Real, the Chilean Peso, the Argentine
Peso, and the Mexican Peso versus the United States Dollar), possible
variations in ore grade or recovery rates, changes in the Company's hedging
program, changes in accounting policies, changes in mineral resources and
mineral reserves, risk related to non-core mine dispositions, risks related to
acquisitions, changes in project parameters as plans continue to be refined,
changes in project development, construction, production and commissioning
time frames, risk related to joint venture operations, the possibility of
project cost overruns or unanticipated costs and expenses, higher prices for
fuel, steel, power, labour and other consumables contributing to higher costs
and general risks of the mining industry, failure of plant, equipment or
processes to operate as anticipated, unexpected changes in mine life, final
pricing for concentrate sales, unanticipated results of future studies,
seasonality and unanticipated weather changes, costs and timing of the
development of new deposits, success of exploration activities, permitting
time lines, government regulation and the risk of government expropriation or
nationalization of mining operations, environmental risks, unanticipated
reclamation expenses, title disputes or claims, limitations on insurance
coverage and timing and possible outcome of pending litigation and labour
disputes, as well as those risk factors discussed or referred to in the
Company's current annual Management's Discussion and Analysis and Annual
Information Form filed with the securities regulatory authorities in all
provinces of Canada and available at www.sedar.com, and the Company's Annual
Report on Form 40-F filed with the United States Securities and Exchange
Commission. Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other factors that
cause actions, events or results not to be anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. The Company undertakes no obligation to
update forward-looking statements if circumstances or management's estimates,
assumptions or opinions should change, except as required by applicable law.
The reader is cautioned not to place undue reliance on forward-looking
statements. The forward-looking information contained herein is presented for
the purpose of assisting investors in understanding the Company's expected
financial and operational performance and results as at and for the periods
ended on the dates presented in the Company's plans and objectives and may not
be appropriate for other purposes.
FOR FURTHER INFORMATION PLEASE CONTACT:
Yamana Gold Inc.
Lisa Doddridge, Vice President,
Corporate Communications and Investor Relations
416-945-7362 or 1-888-809-0925