TIDMAUY
RNS Number : 5911J
Yamana Gold Inc.
24 August 2021
YAMANA GOLD REPURCHASES AN ADDITIONAL 1,584,500 COMMON SHARES
UNDER ITS SHARE REPURCHASE PROGRAM FOR A CUMULATIVE TOTAL OF
3,321,276 COMMON SHARES FOR APPROXIMATELY C$18 MILLION
TORONTO, ONTARIO, August 24, 2021 -- YAMANA GOLD INC. ("Yamana"
or "the Company") (TSX:YRI; NYSE:AUY; LSE: AUY) today announced
that it has repurchased an additional 1,584,500 common shares under
the Company's normal course issuer bid for a cumulative total of
3,321,276 common shares for approximately C$18 million purchased
since the initiation of its share repurchase program for up to 5%
of the outstanding shares. The Company plans to be selective and
opportunistic in relation to share repurchases intending to enter
market when permitted and at times when the trading range of its
shares do not reflect the underlying value. The Company continues
to be committed to further increasing shareholder returns through
its capital returns program, and additional share repurchases will
be determined based on market conditions, share price, and best use
of available cash, in addition to further considerations. Common
shares that are purchased under the normal course issuer bid will
be cancelled. For further details of the Company's normal course
issuer bid, see the news release dated July 29, 2021, available at
www.yamana.com .
The Company believes that the market price of its common shares
does not currently represent their full value and growth prospects
and views purchases of common shares as an attractive investment
comparable to its investments in its portfolio of exploration and
development stage assets. The share repurchases are a further
component of the Company's capital returns program, which also
includes cash returns through the Company's dividends, which have
cumulatively increased by 500% since the second quarter of
2019.
Exploration Update Planned for September
The Company will be providing an update on exploration progress
at its existing mines as well as an update on its generative
exploration program in early-to-mid September.
About Yamana
Yamana Gold Inc. is a Canadian-based precious metals producer
with significant gold and silver production, development stage
properties, exploration properties, and land positions throughout
the Americas, including Canada, Brazil, Chile and Argentina. Yamana
plans to continue to build on this base through expansion and
optimization initiatives at existing operating mines, development
of new mines, the advancement of its exploration properties and, at
times, by targeting other consolidation opportunities with a
primary focus in the Americas.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Investor Relations
416-815-0220
1-888-809-0925
Email: investor@yamana.com
FTI Consulting (UK Public Relations)
Sara Powell / Ben Brewerton
+44 7931 765 223 / +44 203 727 1000
Peel Hunt LLP (Joint UK Corporate Broker)
Ross Allister / David McKeown / Alexander Allen
Telephone: +44 (0) 20 7418 8900
Berenberg (Joint UK Corporate Broker)
Matthew Armitt / Jennifer Wyllie / Detlir Elezi
Telephone: +44 (0) 20 3207 7800
Credit Suisse (Joint UK Corporate Broker)
Ben Lawrence / David Nangle
Telephone: +44 (0) 20 7888 8888
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news
release contains or incorporates by reference "forward-looking
statements" and "forward-looking information" under applicable
Canadian securities legislation and within the meaning of the
United States Private Securities Litigation Reform Act of 1995.
Forward-looking information includes, but is not limited to
information with respect to the Company's strategy, plans or future
financial or operating performance, results of feasibility studies,
repayment of debt or updates regarding mineral reserves and mineral
resources. Forward-looking statements are characterized by words
such as "plan", "expect", "budget", "target", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions, assumptions
and estimates of management considered reasonable at the date the
statements are made, and are inherently subject to a variety of
risks and uncertainties and other known and unknown factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors
include Yamana's purchases under its normal course issuer bid,
recently completed notes offering, the Company's dividend, funding
capital allocation priorities, the Company's expectations in
connection with the production and exploration, development and
expansion plans at the Company's projects discussed herein being
met, the impact of proposed optimizations at the Company's
projects, changes in national and local government legislation,
taxation, controls or regulations and/or change in the
administration of laws, policies and practices, and the impact of
general business and economic conditions, global liquidity and
credit availability on the timing of cash flows and the values of
assets and liabilities based on projected future conditions,
fluctuating metal prices (such as gold, silver, copper and zinc),
currency exchange rates (such as the Canadian Dollar, the Brazilian
Real, the Chilean Peso and the Argentine Peso versus the United
States Dollar), the impact of inflation, possible variations in ore
grade or recovery rates, changes in the Company's hedging program,
changes in accounting policies, changes in mineral resources and
mineral reserves, risks related to asset dispositions, risks
related to metal purchase agreements, risks related to
acquisitions, changes in project parameters as plans continue to be
refined, changes in project development, construction, production
and commissioning time frames, risks associated with infectious
diseases, including COVID-19, unanticipated costs and expenses,
higher prices for fuel, steel, power, labour and other consumables
contributing to higher costs and general risks of the mining
industry, failure of plant, equipment or processes to operate as
anticipated, unexpected changes in mine life, final pricing for
concentrate sales, unanticipated results of future studies,
seasonality and unanticipated weather changes, costs and timing of
the development of new deposits, success of exploration activities,
permitting timelines, government regulation and the risk of
government expropriation or nationalization of mining operations,
risks related to relying on local advisors and consultants in
foreign jurisdictions, environmental risks, unanticipated
reclamation expenses, risks relating to joint venture operations,
title disputes or claims, limitations on insurance coverage, timing
and possible outcome of pending and outstanding litigation and
labour disputes, risks related to enforcing legal rights in foreign
jurisdictions, as well as those risk factors discussed or referred
to herein and in the Company's Annual Information Form filed with
the securities regulatory authorities in all provinces of Canada
and available at www.sedar.com , and the Company's Annual Report on
Form 40-F filed with the United States Securities and Exchange
Commission. Although the Company has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
The Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates, assumptions
or opinions should change, except as required by applicable law.
The reader is cautioned not to place undue reliance on
forward-looking statements. The forward-looking information
contained herein is presented for the purpose of assisting
investors in understanding the Company's expected financial and
operational performance and results as at and for the periods ended
on the dates presented in the Company's plans and objectives and
may not be appropriate for other purposes.
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