Toronto, Ontario, March 23, 2011
- Kinross Gold Corporation (TSX: K, NYSE: KGC) announced
today that it has sold its approximate 8.5% equity interest in
Harry Winston Diamond Corporation ("Harry Winston"), consisting of
approximately 7.1 million Harry Winston common shares, on an
underwritten block trade basis, for gross proceeds of CDN$100
million.
On August 25, 2010, Kinross announced that it had
completed the sale of its former 22.5% interest in the partnership
holding Harry Winston's 40% interest in the Diavik Diamond Mines
joint venture to Harry Winston for US$50 million cash, 7.1 million
Harry Winston common shares, and a note payable in the amount of
US$70 million maturing 12 months from the date of the
sale.
This press release is not an offer of securities for sale
in the United States. The Harry Winston common shares to be sold
have not been and will not be registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration.