Newcrest Mining completes Pretium Resources acquisition

The Pretium Resources Brucejack Project in northwest British Columbia. Source: Pretium Resources Inc.

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The previously announced acquisition of Pretium Resources Inc. [PVG-TSX, NYSE] by Australian-based Newcrest Mining Ltd. [NCM-TSX; NCMGF-OTC; NSM-ASX] by way of a plan of arrangement has been successfully completed.

Pretium has applied to cease being a reporting issuer and the Pretium shares are expected to be delisted from the Toronto Stock Exchange on or about the closing of trading on March 11, 2022. The Pretium shares are suspended from trading as of March 9, 2022, and will be delisted from the New York Stock Exchange and deregistered under the U.S. Securities Exchange Act of 1934, as amended, in accordance with applicable law.

Under the terms of the transaction, Pretium shareholders were able to elect, prior to 5 p.m. (Vancouver time) on January 18, 2022, to receive the consideration for their Pretium shares in cash or Newcrest shares, subject to proration to ensure aggregate cash and Newcrest share consideration each represent 50% of total transaction consideration. Pretium shareholders who did not make an election will receive the default consideration of $9.25 per Pretium share in cash and 0.4042 Newcrest share per Pretium share.

Valid elections representing approximately 50.51% of the outstanding Pretium shares were received by the election deadline. As a result, all holders of Pretium shares who made an election will be subject to the following proration:

Pretium shareholders who elected to receive the all-cash consideration will receive approximately $10.81 in cash and 0.3357 Newcrest share per Pretium share. Pretium shareholders who elected to receive the all-share consideration will receive 0.8084 Newcrest share per Pretium share.

Pretium is an intermediate gold producer with the 100%-owned, high-grade gold underground Brucejack mine located in the Golden Triangle region of northwestern British Columbia.


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