Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.

Kinross Announces Approval to Raise Bids of Regular Course Issuers as Part of Enhanced Share Repurchase Program, The Canadian Business Journal

(All amounts are in US dollars unless otherwise stated.)

TORONTO, Sept. 29, 2022 (GLOBE NEWSWIRE) — Kinross Gold Corporation (“Kinross” or the “Company”) (TSX: K, NYSE: KGC) will be listed on the Toronto Stock Exchange (“TSX”) on October 29, 2022. You have accepted the notice submitted by the Company to amend the Regular Course Publisher’s Bid (“NCIB”) Program, effective as of the 4th.

This amendment will increase the maximum number of shares of common stock that can be repurchased from 65,002,277 shares (1,300,045,558 shares of common stock outstanding as of July 27, 2022), representing 5% of the outstanding shares of the Company, to 114,047,070 shares. To do. Ordinary shares representing 10% of our “public shares” as of July 27, 2022.

Purchases under the NCIB will begin on August 3, 2022 and are expected to close by August 2, 2023. Under his current NCIB, Kinross has repurchased a total of 14,657,908 common shares for cancellation from August 3, 2022 through September 27, 2022.

The NCIB amendments are being made pursuant to the Company’s enhanced share repurchase program announced on September 19, 2022, and the market price of its common stock may not fully reflect the market price at times This is consistent with our view that Accordingly, the purchase of common stock is in the Company’s best interests and represents an attractive and appropriate use of available funds. Kinross is committed to improving shareholder returns through programs such as share buybacks and quarterly dividends, underpinned by its investment grade balance sheet, strong free cash flow position and growing production profile from its global portfolio. increase.

Kinross may be purchased through the facilities of the TSX, the New York Stock Exchange (“NYSE”) and/or the Canadian Alternative Trading System (where eligible) or through any other means permitted by the Ontario Securities Commission of Canada. You can do. Securities Controller and Applicable Law. Daily buybacks on TSX are limited to a maximum of 1,158,750 common shares (4,635,002 shares) representing 25% of the average daily trading volume for the six months ending June 30, 2022. “Block Buying Exception” to TSX Rules. Subject to certain exceptions to block purchases, the maximum number of shares of common stock that may be purchased on the NYSE per day is 25% of the average daily trading volume for the four calendar weeks preceding the purchase date. All shares purchased by the Company under the NCIB Program will be cancelled.

Purchases are made by the Company in accordance with the requirements of the TSX and/or NYSE and the price paid by the Company for such common stock is the market price of such common stock at the time of acquisition. Any other price permitted by TSX and/or NYSE. In connection with the amended NCIB Program, the Company has entered into a amended automatic repurchase plan with its Designated Brokers, subject to certain parameters regarding price and number of shares, subject to certain pre-determined blackout periods. enabled the purchase of common stock in common stock. Outside of these pre-determined blackout periods, common stock will be repurchased in accordance with applicable law, at the discretion of management.

Although we currently intend to acquire common stock pursuant to the NCIB program, we are not obligated to make any purchases and purchases may be terminated by us at any time.

About Kinross Gold Corporation

Kinross is a Canada-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is to deliver value based on our core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross is traded on the Toronto Stock Exchange (symbol: K ) and the New York Stock Exchange (symbol: KGC).

media contact
Samantha Sheffield
Manager, Corporate Communications
Phone: 416-365-3034
[email protected]

Investor Information Inquiries
Chris Lichtenhert
Vice President, Investor Relations
Phone: 647-821-1736
[email protected]

Cautionary Note Regarding Forward-Looking Statements

All statements other than statements of historical fact, including without limitation information regarding Kinross’ future financial or operating results, constitute “forward-looking information” or “forward-looking information.” A “statement of observation” within the meaning of certain securities laws, including provisions of the Securities Act (Ontario) and “safe harbor” provisions under the U.S. Private Securities Litigation Reform Act of 1995, includes the following expectations, estimates, and forecast. of the date of this news release. Forward-looking statements contained in this news release include, but are not limited to, statements regarding the Company’s potential purchases under his NCIB. “forecast”, “continue”, “estimate”, “expect”, “predict”, “guidance”, “intend”, “outlook”, “progress”, “probability”, “priority” the word “attach” or that a particular action, event or result may, may or need to be achieved or will be achieved, received or will occur; or similar words or phrases or statements resulting from such statements identify forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that are believed to be reasonable by Kinross as of the date of such statements, but which are inherently material business, economic and Subject to competitive uncertainties and unforeseen circumstances. Kinross’ estimates, models, and assumptions referenced in, included in, or incorporated by reference in this news release may prove to be inaccurate and are subject to discussion and analysis ( “MD&A for the Year Ended December 31, 2021”), and the Annual Information Form dated March 31, 2022. Such factors include, but are not limited to, the inaccuracies of the assumptions set forth above. Many of these uncertainties and unforeseen events may directly or indirectly affect Kinross’ actual results, which are not forward-looking statements made by or on behalf of Kinross. may differ materially from what is expressed or implied in goodwill and/or asset impairment charges; 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. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans for the future. All forward-looking statements made in this news release are limited to those made in this cautionary statement and other filings with securities regulators in Canada and the United States. “Analysis” section of the MD&A for the year ended December 31, 2021 and the Annual Information Form for March 31, 2022. Kinross disclaims any intention or obligation to update or revise any forward-looking statements or to account for any material differences between subsequent actual events and such forward-looking statements.

Source: Kinross Gold Corporation

CBJ Newsmaker

Kinross Announces Approval to Raise Bids of Regular Course Issuers as Part of Enhanced Share Repurchase Program, The Canadian Business Journal

Source link Kinross Announces Approval to Raise Bids of Regular Course Issuers as Part of Enhanced Share Repurchase Program, The Canadian Business Journal

Related Articles

Back to top button