Yamana Gold Declares Third Quarter Dividend

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Go back to Yamana Gold Declares Third Quarter Dividend

Yamana Gold (AUY) to Sell Mercedes Mine in $140M Deal

July 29, 2016 6:22 AM EDT

YAMANA GOLD INC. (NYSE: AUY) announced that it has entered into a definitive Share Purchase Agreement (the "Agreement") to sell 100% of its interest in the Mercedes mine in Sonora, Mexico to Premier Gold Mines Limited ("Premier") (herein referred to as the "Transaction"). Pursuant to the Agreement, Yamana will receive consideration in the form of cash and equity securities, the value of which was $140 million at the time of negotiations. Total cash and equity securities consideration is summarized as follows:


1. Cash consideration of $122.5 million;
2. Approximately 6 million Premier common shares; and
3. Approximately 3 million... More