December 5, 2002...Toronto,
Ontario -
Kinross Gold Corporation (TSX-K; Amex-KGC)
announced
today that it has completed the previously announced sale of 50,000,000 Units at Cdn $3.05 per Unit
to a syndicate of underwriters co-led by Griffiths McBurney & Partners and CIBC World Markets Inc.
and including RBC Capital Markets Inc., Scotia Capital Inc. and Canaccord Capital Corporation. Each
Unit consists of one Common Share of the Company from treasury and one half of a Common Share
Purchase Warrant. One whole Common Share Purchase Warrant can be exercised on or before
December 5, 2007 for one Common Share from treasury at an exercise price of Cdn $5.00. The
Common Share Purchase Warrants are listed on the Toronto Stock Exchange.
On December 3, 2002 Kinross entered into a commitment letter with a syndicate of financial
institutions for the provision of a US $125 million revolving credit facility to be used for the purpose of
replacing existing letters of credit outstanding under Kinross’ current secured credit agreement and for
additional letters of credit required for the TVX Gold Inc. (“TVX”) and Echo Bay Mines Ltd. (“Echo Bay”)
financial assurance requirements for mine closure with various regulatory bodies. Kinross expects that
the credit facilities will be secured by first ranking security interests in substantially all of Kinross’ (and
its subsidiaries) assets, properties and undertaking and will also contain a number of financial and
operating covenants. Availability of the credit facilities will be subject to a number of conditions
precedent including the completion of the Kinross, Echo Bay and TVX Combination previously
announced. There can be no assurance that the commitment letter will lead to the provision of a credit
facility.
SECURITIES OFFERED IN THE KINROSS FINANCING HAVE NOT AND WILL NOT BE REGISTERED UNDER
THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED AND MAY NOT BE SOLD IN THE UNITED
STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS.
-30-
For additional information:
Robert M. Buchan
President and Chief Executive Officer
Tel.: (416) 365-5650
Gordon A. McCreary
Vice President, Investor Relations and Corporate
Development
Tel.: (416) 365-5132
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December 5, 2002...Toronto,
Ontario -
Kinross Gold Corporation (TSX-K; Amex-KGC)
announced
today that it has completed the previously announced sale of 50,000,000 Units at Cdn $3.05 per Unit
to a syndicate of underwriters co-led by Griffiths McBurney & Partners and CIBC World Markets Inc.
and including RBC Capital Markets Inc., Scotia Capital Inc. and Canaccord Capital Corporation. Each
Unit consists of one Common Share of the Company from treasury and one half of a Common Share
Purchase Warrant. One whole Common Share Purchase Warrant can be exercised on or before
December 5, 2007 for one Common Share from treasury at an exercise price of Cdn $5.00. The
Common Share Purchase Warrants are listed on the Toronto Stock Exchange.
On December 3, 2002 Kinross entered into a commitment letter with a syndicate of financial
institutions for the provision of a US $125 million revolving credit facility to be used for the purpose of
replacing existing letters of credit outstanding under Kinross’ current secured credit agreement and for
additional letters of credit required for the TVX Gold Inc. (“TVX”) and Echo Bay Mines Ltd. (“Echo Bay”)
financial assurance requirements for mine closure with various regulatory bodies. Kinross expects that
the credit facilities will be secured by first ranking security interests in substantially all of Kinross’ (and
its subsidiaries) assets, properties and undertaking and will also contain a number of financial and
operating covenants. Availability of the credit facilities will be subject to a number of conditions
precedent including the completion of the Kinross, Echo Bay and TVX Combination previously
announced. There can be no assurance that the commitment letter will lead to the provision of a credit
facility.
SECURITIES OFFERED IN THE KINROSS FINANCING HAVE NOT AND WILL NOT BE REGISTERED UNDER
THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED AND MAY NOT BE SOLD IN THE UNITED
STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS.
-30-
For additional information:
Robert M. Buchan
President and Chief Executive Officer
Tel.: (416) 365-5650
Gordon A. McCreary
Vice President, Investor Relations and Corporate
Development
Tel.: (416) 365-5132
Home
•
Corporate
•
Operations
•
Investors
•
News
•
Contact
•
Search
•
Index