Vancouver, February 16, 2018 – Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) (“Leagold” or the “Company”) is pleased to announce it has reached an agreement with Brio Gold Inc. (“Brio”) (TSX:BRIO) under which the previously announced proposed take-over bid by Leagold will now be completed on a Brio Board-supported basis by way of a statutory plan of arrangement (“Arrangement”). Pursuant to the definitive arrangement agreement (the “Arrangement Agreement”), for each Brio common share issued and outstanding, Leagold will issue 0.922 of a Leagold share and 0.4 of a Leagold share purchase warrant (each whole warrant, a “Leagold Warrant”). With the addition of 0.4 of a Leagold Warrant, the aggregate consideration to be received by Brio shareholders represents an increase in the value of the implied consideration disclosed in Leagold’s press release of January 23, 2018 from C$2.80 per Brio share to C$2.90. Both the Leagold and Brio Boards of Directors have unanimously approved the terms of the Arrangement Agreement.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s