Brief: GOGOLD RESOURCES ANNOUNCES SALE OF SANTA GERTRUDIS PROJECT TO AGNICO EAGLE MINES LIMITED FOR $80 MLN

GoGold Resources

05/09/2017 15:33

Sept 5 (Reuters) - GoGold Resources Inc  
    * GOGOLD RESOURCES INC. ANNOUNCES SALE OF SANTA GERTRUDIS 
PROJECT TO AGNICO EAGLE MINES LIMITED FOR US$80 MILLION 
    * ENTERED INTO DEFINITIVE AGREEMENTS WITH AGNICO EAGLE 
MINES TO SELL ITS INTEREST IN SANTA GERTRUDIS GOLD PROJECT 
    * NET PROCEEDS OF TRANSACTION WILL BE USED TO REPAY 
COMPANY'S SENIOR REVOLVING CREDIT FACILITY, REDUCE OUTSTANDING 
TRADE 
    * AGNICO WILL RETAIN OPTION TO BUY BACK 1% OF NSR FOR US$7.5 
MILLION 
    * TRANSACTION IS NOT SUBJECT TO A SHAREHOLDER VOTE 
    * AGNICO TO ADVANCE TO GOGOLD A TOTAL OF US$7.5 MILLION IN 
CASH VIA SUBORDINATED SECURED TERM LOAN BEARING INTEREST AT 10% 
PER ANNUM 
 
Source text for Eikon:  ID:nCNW7S5Hza  
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