Tahoe and Rio Alto Announce Completion of Merger

Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) and Rio Alto Mining Ltd. (TSX:RIO,NYSE:RIOM) announced that they have completed their merger, which was originally announced on February 9, 2015.

As quoted in the press release:

Pursuant to the Arrangement and effective upon closing of the Arrangement, Rio Alto has become a wholly-owned subsidiary of Tahoe, and all of the issued and outstanding common shares of Rio Alto (each a ‘Rio Alto Share’) were transferred to Tahoe in consideration for the issuance by Tahoe of 0.227 of a common share of Tahoe (each whole common share a ‘Tahoe Share’) and the payment of $0.001 for each Rio Alto Share. In connection with the closing of the Arrangement, Tahoe has issued an aggregate of 75,991,381 Tahoe Shares to the former shareholders of Rio Alto. On closing of the Arrangement, Tahoe has 223,726,156 common shares issued and outstanding, with former Rio Alto shareholders holding approximately 34 percent on an undiluted basis.

Alex Black, CEO of Tahoe, commented:

This merger creates a new leader in the precious metals space as demonstrated by our combined track record of execution and delivery. With two operating mines, two quality development projects, large exploration areas and an unleveraged balance sheet, Tahoe is positioned for future growth. Our mission remains the same: to responsibly deliver long-term shareholder value.

Click here to read the full Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) and Rio Alto Mining Ltd. (TSX:RIO,NYSE:RIOM) press release.

Tahoe’s strategy is to responsibly operate precious metals mines, to pay significant shareholder dividends and to grow by developing long-term, low-cost assets in the Americas. Tahoe is a member of the S&P/TSX Composite and TSX Global Mining indices and the Russell 3000 on the NYSE. The Company is listed on the TSX as THO and on the NYSE as TAHO. Tahoe is seeking a listing of its shares on the Lima Stock Exchange.