Centerra Gold Announces Completion of Global Arrangement Agreement with Kyrgyzaltyn and the Government of the Kyrgyz Republic
TORONTO, July 29, 2022 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra or the Company) (TSX: CG) (NYSE: CGAU) today announced the closing of the previously announced global arrangement agreement (the Arrangement Agreement) with Kyrgyzaltyn JSC (Kyrgyzaltyn) and the Government of the Kyrgyz Republic relating to the disposition of Centerras ownership of the Kumtor mine and investment in the Kyrgyz Republic and the termination of Kyrgyzaltyns involvement with the Company (the Transaction).
- TORONTO, July 29, 2022 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra or the Company) (TSX: CG) (NYSE: CGAU) today announced the closing of the previously announced global arrangement agreement (the Arrangement Agreement) with Kyrgyzaltyn JSC (Kyrgyzaltyn) and the Government of the Kyrgyz Republic relating to the disposition of Centerras ownership of the Kumtor mine and investment in the Kyrgyz Republic and the termination of Kyrgyzaltyns involvement with the Company (the Transaction).
- As contemplated by the Arrangement Agreement, the parties have, among other things, provided full and final releases of all claims related to the Kumtor mine.
- In addition, Kyrgyzaltyns two director nominees, Dushen Kasenov and Nurlan Kyshtobaev, have resigned from Centerras Board of Directors, and the Restated Shareholders Agreement between, among others, Centerra and Kyrgyzaltyn has terminated.
- Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Turkey, and other markets worldwide.