DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT) (“Newmont”) announced today that on July 16, 2020, through its wholly owned subsidiary, Goldcorp Inc., it disposed of 17,662,646 common shares (each, a “Common Share”) of Gold Standard Ventures Corp. (“GSV”) (the “Disposition”). The Disposition took place on the Chi-X Exchange.
Immediately prior to the Disposition, Newmont beneficially owned or exercised control or direction over 35,325,291 Common Shares, representing approximately 12.4 percent of the issued and outstanding Common Shares. Following the Disposition, Newmont, now owns 17,662,645 Common Shares, representing approximately 6.2 percent of the issued and outstanding Common Shares. The Common Shares were sold for $1.12 per share, for aggregate consideration of $19,782,163.52.
The Common Shares were originally held for investment purposes. Newmont will evaluate its investment in GSV from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease its shareholdings as circumstances require through market transactions, private agreements, or otherwise.
Newmont’s address is 6363 South Fiddler’s Green Circle, Suite 800, Greenwood Village, CO 80111. GSV is listed on the TSX and its address is Suite 610, 815 West Hastings Street, Vancouver, British Columbia, Canada V6C 1B4. A copy of the early warning report filed by Newmont in connection with the Disposition is available on GSV’s SEDAR profile.
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.