(all amounts are in US dollars unless otherwise indicated)
TORONTO, Jan. 29, 2013 /CNW/ - AuRico Gold Inc. (TSX: AUQ) (NYSE: AUQ), ("AuRico" or the "Company") announced today that it has taken up and
paid for 36,144,578 common shares ("Shares") at a price of $8.30 per
Share (the "Purchase Price") under the Company's "modified Dutch
auction" substantial issuer bid to purchase for cancellation up to
$300,000,000 of its Shares (the "Offer").
The Shares purchased represent approximately 12.8% of the Shares
outstanding on an undiluted basis as of January 23, 2013 (the expiry
date of the Offer). After giving effect to the purchase, as of that
date, AuRico had 246,395,391 Shares issued and outstanding on an
Shareholders that validly tendered at the Purchase Price had
approximately 34.3% of their tendered Shares purchased by AuRico,
except that "odd lot" tenders (of fewer than 100 Shares) at the
Purchase Price were not subject to pro-ration.
In accordance with the terms of the Offer, Shares tendered under an
auction tender at a price higher than the Purchase Price were not
purchased. Any Shares not purchased under the Offer, including Shares
tendered at prices higher than the Purchase Price or invalidly
deposited, will be returned to shareholders promptly by Computershare
Investor Services Inc. (the "Depositary"), as depositary for the Offer.
Payment and settlement of the purchased Shares will be effected to
registered shareholders by the Depositary on or about January 31, 2013
in accordance with the settlement procedures described in the Offer.
RBC Dominion Securities Inc. and, RBC Capital Markets, LLC acted as
dealer managers in connection with the Offer in Canada and the United
States, respectively, and as financial advisor to AuRico.
About AuRico Gold
AuRico Gold is a leading Canadian gold producer with mines and projects
in North America that have significant production growth and
exploration potential. The Company is focused on its core operations
including the Young-Davidson gold mine in northern Ontario, which
declared commercial production on September 1, 2012 and the El Chanate
mine in Sonora State, Mexico. AuRico's project pipeline also includes
advanced development opportunities in Mexico and British Columbia.
AuRico's head office is located in Toronto, Ontario, Canada.
Certain information included in this news release constitutes
forward-looking statements, including any information as to our
projects, plans and future financial and operating performance. All
statements, other than statements of historical fact, are
forward-looking statements. The words "expect", "believe",
"anticipate", "will", "intend", "estimate", "forecast", "budget",
"schedule" and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, while considered reasonable by
management, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such factors include, but
are not limited to: changes to current estimates of mineral reserves
and resources; fluctuations in the price of gold; changes in foreign
exchange rates (particularly the Canadian dollar, Mexican peso and U.S.
dollar); the impact of inflation; changes in our credit rating; any
decisions to implement a dividend; employee relations; litigation;
disruptions affecting operations; availability of and increased costs
associated with mining inputs and labor; development delays at the
Young-Davidson mine; operating or technical difficulties in connection
with mining or development activities; inherent risks associated with
mining and mineral processing; the risk that the Young-Davidson, and El
Chanate mine and may not perform as planned; uncertainty with the
Company's ability to secure capital to execute its business plans; the
speculative nature of mineral exploration and development, including
the risks of obtaining necessary licenses and permits; contests over
title to properties; changes in national and local government
legislation in Canada, Mexico and other jurisdictions in which the
Company does or may carry on business in the future; risk of loss due
to sabotage and civil disturbances; the impact of global liquidity and
credit availability and the values of assets and liabilities based on
projected future cash flows; risks arising from holding derivative
instruments; business opportunities that may be pursued by the Company
Many of these uncertainties and contingencies can affect our actual
results and could cause actual results to differ materially from those
expressed or implied in any forward-looking statements made by, or on
behalf of, us. Readers are cautioned that forward-looking statements
are not guarantees of future performance. All of the forward-looking
statements made in this press release are qualified by these cautionary
statements. Specific reference is made to the most recent Form
40-F/Annual Information Form on file with the SEC and Canadian
provincial securities regulatory authorities for a discussion of some
of the factors underlying forward-looking statements. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by applicable law.