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Kirkland Lake Gold Announces Sale of Stawell Gold Mines

KIRKLAND LAKE GOLD LTD (KL)  More Company Research Source: GlobeNewswire
US:NYSE Investor Relations: klgold.com/investors/default.aspx
PDF TORONTO, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) is pleased to announce that it has entered into a share sale agreement with an affiliate of Arete Capital Partners Ltd. (“Arete”), pursuant to which Arete will acquire all of the issued and outstanding common shares of Stawell Gold Mines Pty Ltd. which holds the Stawell Gold Mine located in the State of Victoria, Australia. Pursuant to the terms of the agreement, the Company will receive US$6.25 million in cash consideration and will retain a 2.5% net smelter return royalty (“NSR”) on the Stawell mine. Tony Makuch, President and CEO, Kirkland Lake Gold, commented: “This transaction is consistent with our long-term strategy to focus on our low-cost, high-grade core assets while simultaneously providing Kirkland Lake Gold with continued exposure to the project through the NSR. We believe the management team at Arete is well positioned to optimize th [Read more]

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