Yamana Gold Expands Its Footprint in the Abitibi Region With Friendly Acquisition of Monarch

TORONTO, Nov. 02, 2020 (GLOBE NEWSWIRE) — YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or the “Company”) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) with Monarch Gold Corporation (“Monarch”) whereby Yamana will acquire the Wasamac property and the Camflo property and mill (the “Acquisition Properties”) through the acquisition of all of the outstanding shares of Monarch not owned by Yamana under a plan of arrangement for consideration, including cash and shares, of approximately C$152 million. In connection with the plan of arrangement, Monarch will complete a spin-out (the “Spin-Out”) to its shareholders, through a newly-formed company (“SpinCo”) of its other mineral properties and certain other assets and liabilities of Monarch (collectively, the “Transaction”).

Highlights of the Transaction Adds the Wasamac project to Yamana’s Canadian e xploration p ortfolio Monarch’s principal asset is the Wasamac gold underground project, located 15 kilometres west of Rouyn-Noranda […]

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