VANCOUVER, July 10, 2017 /CNW/ - Eldorado Gold Corporation (the "Company" or Eldorado") (TSX: ELD, NYSE: EGO) is pleased to announce the successful completion of the plan of arrangement (the "Arrangement") involving Integra Gold Corp. ("Integra") (TSXV: ICG) originally announced on May 15, 2017. The Arrangement was approved by the shareholders of Integra at its special meeting on July 4, 2017 and received approval from the Supreme Court of British Columbia on July 7, 2017.
Pursuant to the Arrangement, Integra shareholders will collectively receive, for all the issued common shares of Integra that Eldorado did not already own, approximately CAD$129 million cash and 77 million common shares of Eldorado (representing approximately 10% of the total issued common shares of Eldorado, post-completion of the Arrangement).
Integra will continue as a wholly-owned subsidiary of Eldorado and Integra common shares will be delisted from the TSXV as soon as practicable.
Eldorado's President and CEO, George Burns, commented, "This is a very important transaction for Eldorado and we are pleased with the votes of support from Integra shareholders. Eldorado is looking forward to expanding our growing business to Canada. Our experience in building and operating mines, combined with the experience from our new team in Quebec, will enhance our long-term growth profile and value proposition for all stakeholders."
About Eldorado Gold
Eldorado is a leading intermediate gold producer with mining, development and exploration operations in Turkey, Greece, Romania, Serbia and Brazil. The Company's success to date is based on a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with the communities where it operates. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).