Brio Gold Agrees to Increased Offer from Leagold

Brio Gold (“Brio Gold”) (TSX: BRIO) is pleased to announce that it has entered into a definitive agreement (the “Arrangement Agreement”) pursuant to which Leagold Mining (“Leagold”) will acquire all of the issued and outstanding shares of Brio Gold (the “Transaction”), based on an increased value for Brio Gold shareholders.

Gil Clausen, Brio Gold’s President and CEO, said:

“We are pleased to have reached an agreement with Leagold to combine both companies to create a large mid-tier gold producer with peer-leading growth. This transaction brings many near-term and long-term benefits to our shareholders.

In addition to the immediate and significant premium, the combined company will have a solid production platform, strong cash position and additional cash flow to fund growth. Further, the combined company will have a broadened shareholder base, a larger public float and enhanced trading liquidity. We are confident that this combination, led by Leagold’s experienced management team, will create additional value for our shareholders going forward.”

Click here to read the full text release.