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leagold.com

Stage

Acquired | Acquired

Total Raised

$45M

Valuation

$0000 

About Leagold Mining

Leagold aims to build a new mid-tier gold producer with a focus on opportunities in Latin America.On December 16, 2019, Leagold was acquired by Equinox Gold.

Leagold Mining Headquarter Location

Suite 3043 – 595 Burrard Street

Vancouver, British Columbia, V7X 1J1,

Canada

604-398-4505

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Latest Leagold Mining News

Caldas Gold Announces CA$85 Million Subscription Receipt Offering and Proposed Change of Board, Management and Name

Nov 23, 2020

Caldas Gold Announces CA$85 Million Subscription Receipt Offering and Proposed Change of Board, Management and Name Caldas Gold Announces CA$85 Million Subscription Receipt Offering and Proposed Change of Board, Management and Name Share /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) — Caldas Gold Corp. (TSXV: CGC ) (OTCQX: ALLXF ) announced today that it has commenced a private placement financing with a group of investors principally referred by Aris Gold Corporation (“Aris Gold”) that will result in changes to the management and the board of directors (the “Board”) of the Company, as well as a change in the Company’s name to “Aris Gold Corporation” (the “Aris Transaction”). Once the financing is completed, Gran Colombia Gold Corp. (“Gran Colombia”) is expected to become an approximately 45% shareholder of Caldas Gold and will have the right to nominate two directors to the Caldas Gold Board at completion of the Aris Transaction. Under the financing, the Company has agreed to sell, on a non-brokered private placement basis, an aggregate of 37,777,778 subscription receipts of the Company (“Subscription Receipts”), at a price of CA$2.25 each, for aggregate gross proceeds to the Company of CA$85 million (the “Offering”). The financing is expected to close on or about November 27, 2020 (the “Closing Date”). Transaction Highlights The Company will be led by a highly experienced Board with new nominees, including Ian Telfer as Chair, David Garofalo, Peter Marrone, Attie Roux, Daniela Cambone and Neil Woodyer. Gran Colombia’s nominees will be Serafino Iacono and Hernan Martinez. In addition, Frank Giustra will be a Strategic Advisor. The management team will be led by Neil Woodyer, as CEO, with the corporate head office based in Vancouver, BC. This group of incoming Board nominees, management and Strategic Advisor is planning to personally participate in the Offering for an aggregate of CA$38 million. Aris Gold’s vision is to create a diversified precious metals mining company through a disciplined growth strategy with a focus on stakeholder value creation from free cash flow generation and the implementation of industry-leading sustainability programs. The incoming team has a proven track record of building successful precious metals mining companies, including the founding of Leagold Mining (now Equinox Gold), Endeavour Mining, Wheaton River Minerals (which became Goldcorp and now Newmont), Wheaton Precious Metals and Yamana Gold. Following completion of the Aris Transaction, the Marmato license extension process will have been completed and the Marmato Deeps Zone (“MDZ”) expansion project will be fully-financed ahead of construction start, which is expected in H2 2021. The Company is expected to have a cash balance of US$190 million and approximately 137.6 million issued shares outstanding upon completion of the Aris Transaction. The private placement price per subscription receipt of CA$2.25 is a 14% premium to the closing price of Caldas Gold’s common shares on Friday November 20, 2020. Neil Woodyer, CEO of Aris Gold commented, “It is with great pleasure that we announce the launch of the new Aris Gold today. We believe the Marmato mine with its current production and expansion plans supported by a large-scale gold resource represents an ideal platform for us to build a major gold mining company. With this CA$85 million financing, the existing US$110 million streaming financing with Wheaton Precious Metals and new support from Orion Mine Finance, the MDZ expansion program is fully funded. We are thankful to have the continued support of Gran Colombia in this placement, as we transition the Company into full independence. Our immediate focus will be on implementing an industry-leading sustainability program and completing the modernisation and expansion of the historic Marmato gold mine. The recent pre-feasibility study outlined potential average annual gold production of approximately 165 kozs from 2024 through 2033 once the MDZ is in full production with average life-of-mine all-in sustaining costs of US$872 per ounce. Recent exploration success from on-going programs indicates exciting exploration potential with significant upside potential.” Ian Telfer, Chairman of Aris Gold commented, “I am honoured to join such a strong Board with an outstanding, fully-funded growth asset in Colombia. Not since the founding of Wheaton River Minerals 20 years ago have I seen such a strong macro-economic backdrop from which to launch a gold company.” Serafino Iacono, Executive Chairman of Caldas Gold commented, “I am extremely excited to introduce a new leadership team and financing partners to Caldas Gold. Marmato now has all the tools at its disposal to transition to an optimised and fully modern mine in Colombia. Importantly, the company-building track record of the Aris Gold team combined with the in-country experience of Gran Colombia will enhance the Marmato mine and MDZ expansion and help bring the new Aris Gold to the world stage.” On the Closing Date the gross proceeds from the Offering (the “Escrowed Proceeds”), will be deposited in escrow pending the satisfaction or waiver of certain release conditions (the “Release Conditions”), as described in more detail below. Upon the satisfaction or waiver of the Release Conditions at or before the Release Deadline (as defined below), each Subscription Receipt will be automatically converted, without payment of any additional consideration or further action on the part of the holder thereof, into one unit of the Company (a “Unit”) comprising one common share of the Company (a “Common Share”) and one Common Share purchase warrant of the Company (a “Warrant”), and the Escrowed Proceeds will be released, as described in more detail below. The net proceeds of the Offering are expected to be used for the modernization and expansion of the Company’s underground mining operations at its Marmato mine in Colombia and for working capital purposes. In addition, upon satisfaction of the Release Conditions at or before the Release Deadline, the Board and management of the Company will be reorganized as described below. The Aris Transaction is intended to ensure that sufficient financing for the Company’s MDZ expansion project is in place. Further, the Aris Transaction enables the Company to benefit from the extensive mine operating and development experience and knowledge of the new directors and management and best position the Company for the next phase of its growth. The Company anticipates that the Aris Transaction will have a positive effect on the business and affairs of the Company and will add value for its shareholders. Completion of the Offering is subject to receipt of all required regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange (“TSX-V”). Board, Management and Name Changes It is a condition for the satisfaction of the Release Conditions that six (6) of the eight (8) current members of the Board of Directors will resign, with the vacancies filled by the director nominees identified below. These changes will be effected at the time of the satisfaction of the Release Conditions at or before the Release Deadline and the conversion of the Subscription Receipts and release of the Escrowed Proceeds. The new Board of the Company will consist of the following individuals (collectively, the “New Board”): Ian Telfer (Chair, independent; newly nominated) Ian Telfer is a renowned mining entrepreneur and company-builder who created Goldcorp and founded or led other major mining companies such as Wheaton River Minerals, Silver Wheaton (now Wheaton Precious Metals) and Terrane Minerals, amongst others. He is the former Chairman and CEO of Goldcorp, having built the company into one of the industry’s largest gold majors before its sale to Newmont in April 2019. Mr. Telfer previously served as Chairman of the World Gold Council and was inducted into the Canadian Mining Hall of Fame in 2015 and the Canadian Business Hall of Fame in 2018. David Garofalo (independent; newly nominated) David Garofalo has worked in various leadership capacities in the natural resources sector over the last 30 years. He is the former CEO of Goldcorp Inc. until its sale to Newmont in April 2019. Prior to joining Goldcorp, he served as President and CEO of HudBay Minerals Inc. Previous to this, he held various senior positions including SVP, Finance and CFO of Agnico Eagle Limited. Mr. Garofalo was named Mining Person of the Year by the Northern Miner in 2012 due to his track record of successfully operating major global mining companies with high standards of environmental and safety performance and community relationships. Peter Marrone (independent; newly nominated) Peter Marrone is the Executive Chairman of Yamana Gold. He founded Yamana Gold in 2003, which was built through acquisitions and project development. He has more than 30 years of mining, business, and capital markets experience and has been on the boards of a number of public companies, including Equinox Gold and Leagold Mining. Mr. Marrone has also been instrumental as a founding shareholder of several other companies in the extractive industries. Prior to Yamana Gold, Mr. Marrone was the head of investment banking at a major Canadian investment bank and before that a corporate lawyer in which roles he advised companies in international transactions with a focus on companies in the extractive industries in both North and South America. Daniela Cambone (independent; newly nominated) Daniela Cambone was formerly Editor-in-Chief and lead anchor for Kitco News; she has been covering global markets and commodities with a focus on gold for over a decade. She is considered one of the most recognized and respected voices amongst companies and investors in the precious metals and commodities sectors. Neil Woodyer (non-independent; newly nominated) Neil Woodyer is the company-building CEO who created Endeavour Mining and Leagold Mining (now Equinox Gold). Mr. Woodyer was most recently Vice Chairman of Equinox Gold and the former CEO of Leagold Mining and Endeavour Mining. Mr. Woodyer has served as a director on a number of public company boards, including Wheaton River Minerals. He was also a founder and the former Managing Director of Endeavour Financial, a specialist mining-focused financial advisory and merchant bank. Attie Roux (non-independent; newly nominated) Attie Roux is a Metallurgical Engineer with over 40 years of operational, technical and executive management experience in the mining industry. He was formerly the COO of Equinox Gold, Leagold Mining and Endeavour Mining. Previously, Mr Roux was head of Metallurgy for Anglogold Ashanti. Serafino Iacono (non-independent; current Caldas Gold board member, Gran Colombia nominee) Serafino Iacono is Executive Chairman of Gran Colombia, and a director of Caldas Gold. He is a former Co-Chairman and an Executive Director of Pacific Exploration and Production Corp. and a former director of Petromagdalena Energy Corp. Mr. Iacono was also a co-founder of Gran Colombia, Bolivar Gold Corp. and Pacific Stratus Energy, among others, and is involved in numerous resource and business ventures in Latin America, Canada and United States. Hernan Martinez

  • Where is Leagold Mining's headquarters?

    Leagold Mining's headquarters is located at Suite 3043 – 595 Burrard Street, Vancouver.

  • What is Leagold Mining's latest funding round?

    Leagold Mining's latest funding round is Acquired.

  • How much did Leagold Mining raise?

    Leagold Mining raised a total of $45M.

  • Who are the investors of Leagold Mining?

    Investors of Leagold Mining include Equinox Gold and Orion Mine Finance Group.

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