EURO Ressources : EURO RESSOURCES COMPLETES RESTRUCTURING OF THE PAUL ISNARD ROYALTY
(Thomson Reuters ONE) -
EURO RESSOURCES COMPLETES RESTRUCTURING OF THE PAUL ISNARD ROYALTY
PARIS, France, November 7, 2013: EURO Ressources S.A. ("EURO" or the "Company")
today announced that, COLUMBUS Gold Corp. ("COLUMBUS") has exercised its right
under the existing option agreement to purchase the original royalty held by
EURO on the Paul Isnard properties in French Guiana. The Paul Isnard
properities are comprised of eight mineral concessions and an application for an
operating permit (the "PEX") to replace an exploration permit.
In exchange for the original Paul Isnard royalty, EURO has received cash
consideration totalling C$4.2 million, 18,208,328 common shares in COLUMBUS, and
retains a net smelter returns production royalty ("NSR royalty") on the eight
mineral claims and an area of interest surrounding the claims. The NSR royalty
will pay 1.8% on the first 2 million ounces of gold followed by 0.9% on the next
3 million ounces of gold.
As a result of the transaction, EURO now has ownership of 19,095,345 common
shares of COLUMBUS which represents approximately 15.78% of the outstanding
common shares. The common shares of COLUMBUS acquired directly today by EURO
were acquired as part of a restructuring of the original Paul Isnard royalty and
are held for investment purposes. As part of the transaction, EURO has agreed,
for a period of eighteen months from closing, to a standstill on the acquisition
of additional shares of COLUMBUS, the sale of existing shares held of COLUMBUS,
subject to certain exceptions, and to not directly or indirectly change the
composition of COLUMBUS' board of directors. EURO therefore does not have any
present intention to acquire ownership of, or control or direction over,
additional securities of COLUMBUS. It is the intention of EURO to evaluate its
investment in COLUMBUS on a continuing basis, and such holdings may change in
the future.
About EURO
EURO is a French company whose principal asset is the Rosebel Royalty on gold
production at the Rosebel mine operated by IAMGOLD Corporation ("IAMGOLD").
EURO has approximately 62.5 million shares outstanding. IAMGOLD France S.A.S.,
an indirect wholly owned subsidiary of IAMGOLD, owns today approximately 86% of
all outstanding shares.
Statements Regarding Forward-Looking Information: Some statements in this news
release are forward-looking statements. Investors are cautioned that forward-
looking statements are inherently uncertain and involve risks and
uncertainties. There can be no assurance that future developments affecting
the Company will be those anticipated by management.
Not for distribution to United States newswire services or for dissemination in
the United States. The securities referred to herein have not been registered
under the United States Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States or to a U.S. person
absent registration, or an applicable exemption from the registration
requirements of, the Securities Act.
Additional information relating to EURO Ressources S.A. is available on SEDAR at
www.sedar.com. Further requests for information should be addressed to:
Benjamin Little
Directeur-Général
Tel: +1 416 933 4954
Email: blittle(at)euroressources.net
Line Lacroix
Directeur-Général Délégué
Manager Finance
Tel: +1 450 677 2056
Email : llacroix(at)euroressources.net
EURO RESSOURCES COMPLETES RESTRUCTURING OF THE PAUL ISNARD ROYALTY :
http://hugin.info/143433/R/1741712/585279.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: EURO Ressources via Thomson Reuters ONE
[HUG#1741712]
Unternehmensinformation / Kurzprofil:
Datum: 07.11.2013 - 23:46 Uhr
Sprache: Deutsch
News-ID 314286
Anzahl Zeichen: 4610
contact information:
Town:
Paris
Kategorie:
Business News
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