Nord Gold NV Updates on High River Gold Mines Ltd Acquisition Transaction
Nord Gold NV announced that it has successfully secured $280 million in Bridge Financing, coordinated by Natixis, Sberbank CIB and Societe Generale. The proceeds have been used to finance the acquisition of all the outstanding shares of High River Gold Mines (HRG) Ltd not already owned by the Company, as announced in December 2012. This six month Bridge Financing facility provides the Company with the flexibility to make multiple drawdowns in order to match payments to minorities as they became due. As a result of the transaction, Nord Gold NV has raised its stake in HRG from 75.06% to 97.9%. Consolidation of a 100% stake in HRG is planned for first quarter of the 2013.
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