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Stock Market & Financial Investment News

News Breaks
December 27, 2012
18:18 EDTKGCKinross Gold denies Southridge report of joint venture partnership
Kinross Gold Corporation clarified a news release issued by Southridge Enterprises on December 26 announcing a joint partnership between itself and Kinross relating to the Cinco Minas and Gran Cabrera properties in Mexico. The news release contained a number of statements regarding the value and status of the joint venture, and a quote from a Kinross employee. Kinross wishes to make clear that there is no such joint partnership, joint venture or other similar such arrangement or agreement in place, and nor do we expect there to be such a joint partnership, agreement, acquisition, investment or other equivalent transaction involving Kinross and Southridge in the foreseeable future. The statements regarding the value and status of the joint partnership are, to the best of Kinross' knowledge, without any basis in fact. The statement attributed to the Kinross employee in the Southridge news release was incorrectly attributed to him.
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October 21, 2014
17:52 EDTKGCKinross Gold announces sale of Fruta del Norte Project in Ecuador
Kinross Gold is pleased to announce that it has entered into an agreement with Fortress Minerals Corp., a member of the Lundin Group of Companies, to sell all of its interest in Aurelian Resources Inc. and the Fruta del Norte project in Ecuador for US$240M in cash and equity. Kinross will receive US$100M-US$190M in cash, depending on the net proceeds from Fortress' announced equity financing, of which affiliates of the Lundin Family Trust have committed up to US$100M. The balance of the purchase price will be paid in Fortress equity. The transaction is subject to certain conditions, including Fortress shareholder and stock exchange approval, the granting by the Ecuadorian Government of an 18-month extension period from transaction closing to provide time for Fortress to carry out additional project feasibility work and development negotiations, and other customary conditions for a transaction of this nature. The Government of Ecuador has indicated its support for the transaction. Kinross and Fortress, and certain of their wholly-owned subsidiaries, have initialed bilateral agreements with the government, which are subject to the approval of the Ecuadorian Attorney General, which is also a condition of the transaction. The transaction is expected to be completed by mid-December 2014.

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