Pretivm Securityholders Approve Acquisition by Newcrest

January 20, 2022 8:08 PM EST

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Melbourne, Australia--(Newsfile Corp. - January 20, 2022) - Newcrest Mining Limited (ASX: NCM) (TSX: NCM) (PNGX: NCM) (Newcrest) is pleased to announce that Pretium Resources Inc. (TSX: PVG) (NYSE: PVG) (Pretivm) shareholders and optionholders (Securityholders) have voted overwhelmingly in favour of the special resolution to approve the plan of arrangement under which Newcrest will acquire Pretivm, including the Brucejack mine (the Transaction).

The special resolution was approved by 95.48% of the votes cast by Pretivm Securityholders at the special meeting held today.

Pretivm shareholders that did not elect cash or Newcrest shares will receive the default consideration of 50% cash and 50% Newcrest shares, being C$9.25 in cash and 0.4042 Newcrest shares per Pretivm share. For other shareholders, after proration and by operation of the aggregate cap of 50% cash and 50% Newcrest share consideration:

  • Pretivm shareholders electing to receive maximum cash consideration will receive approximately C$10.81 in cash and 0.3357 Newcrest shares per Pretivm share; and
  • Pretivm shareholders electing to receive maximum share consideration will receive 0.8084 Newcrest shares per Pretivm share.

Completion of the Transaction remains subject to final approval by the Toronto Stock Exchange, the granting of the final order by the Supreme Court of British Columbia at a hearing which is scheduled for 25 January 2022, and approval under the Investment Canada Act. Completion of the Transaction is currently expected to occur in the March quarter 2022.

Newcrest's Managing Director and Chief Executive Officer, Sandeep Biswas, said, "It's pleasing to see the overwhelmingly positive support for the Transaction from Pretivm shareholders. This acquisition positions Newcrest as the leading gold miner in British Columbia's Golden Triangle, operating both the Brucejack and Red Chris mines. This is an exciting time for Newcrest and we look forward to building on Pretivm's success to unlock further value in and around the Brucejack operation."

Authorised by the Newcrest Disclosure Committee

For further information please contact

Investor Enquiries:
Tom Dixon
+61 3 9522 5570
+61 450 541 389
[email protected]

North American Investor Enquiries
Ryan Skaleskog
+1 866 396 0242
+61 403 435 222
[email protected]

Media Enquiries
Tim Salathiel
+61 3 9522 4263
+61 407 885 272
[email protected]

This information is available on our website at www.newcrest.com

Forward Looking Statements

This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "targets", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding certain plans, strategies, aspirations and objectives of management, and the expected completion of the Transaction. Newcrest continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.

These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Newcrest's expectation of completion of the Transaction and the expected benefits of the transaction with Pretium Resources Inc. to differ materially from that expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, regulatory risk, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Newcrest operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on Newcrest's results and performance, please see the risk factors included in the Appendix 4E and Financial Report for the year ended 30 June 2021 and the Annual Information Form dated 6 December 2021 which are available to view at www.asx.com.au under the code "NCM" and on Newcrest's SEDAR profile. Newcrest does not undertake to update any of the forward looking statements other than as required by relevant securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111073



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