TSX:P NYSE:PPP
TSX:BRD NYSE:BRD
TORONTO,
Feb. 27, 2014 /PRNewswire/ -
Primero Mining Corp. ("Primero" or the "Company") (TSX:P;
NYSE:PPP) and Brigus Gold Corp ("Brigus") (TSX:BRD; NYSE:BRD) are
pleased to announce the positive results of their respective
shareholder votes to approve the previously announced plan of
arrangement ("Arrangement"), whereby Primero will acquire all of
the outstanding common shares of Brigus. The acquisition is
expected to close on March 5,
2014. Brigus'
principal assets are the wholly owned Black Fox mine and mill, and
adjoining properties, Grey Fox and Pike River in the Timmins Gold
District of Ontario, Canada.
99.90% of the shares represented at Primero's
special shareholders' meeting held earlier today were voted in
favour of a special resolution authorizing the issuance of Primero
common shares pursuant to the Arrangement.
99.08% of the shares represented at Brigus' special shareholders' meeting held
earlier today voted in favour of the Arrangement. Brigus shareholders will receive 0.175 of a
Primero common share, cash consideration of $0.000001, and 0.1 of a common share in the
capital of a newly incorporated company, Fortune Bay Corp., which
will own Brigus' non-Ontario assets, for each Brigus share owned.
About Primero
Primero Mining Corp. is a Canadian-based
precious metals producer and owns 100% of the San Dimas gold-silver mine and 100% of the
Cerro del Gallo gold-silver-copper development project in
Mexico. Primero offers
immediate exposure to un-hedged, low cash cost
gold production with a substantial resource base in a politically
stable jurisdiction. The Company has intentions to become an
intermediate gold producer by building a portfolio of high quality,
low cost precious metals assets in the Americas.
Primero's website is www.primeromining.com.
About Brigus
Brigus is a
growing gold producer committed to maximizing shareholder value
through a strategy of efficient production, targeted exploration
and select acquisitions. Brigus
operates the wholly owned Black Fox Mine and Mill in the Timmins
Gold District of Ontario, Canada.
The Black Fox Complex encompasses the Black Fox Mine and adjoining
properties in the Township of Black River‐Matheson, Ontario, Canada. Brigus also owns the Goldfields Project
located near Uranium City, Saskatchewan,
Canada, which hosts the Box and Athona gold deposits. In the
Dominican Republic, Brigus has signed an agreement to sell its
remaining interests in three mineral exploration projects. In
Mexico, Brigus owns the Ixhuatan Project located in
the state of Chiapas.
Additional information about Brigus and its projects is available on the
Brigus website at
www.brigusgold.com and on SEDAR.
SOURCE Brigus Gold Corp.