Kopy Goldfields buys Amur Zoloto in exchange for 88% shares

MOSCOW, May 29 (PRIME) -- Swedish gold producer Kopy Goldfields has agreed on a reverse acquisition of Russian precious metals miner Amur Zoloto as a result of a deal worth U.S. $119.6 million with Amur Zoloto’s shareholders receiving 88% of the merged company, Kopy Goldfields said in a statement on Friday.

“Kopy Goldfields AB has entered into a conditional agreement with HC Alliance Mining Group and Lexor Group SA where Kopy Goldfields acquires 100% of the shares of Amur Gold Company Limited (Amur Zoloto), a mid-sized gold producing company based in Russia, through a reverse takeover,” the company said.

The deal is to be closed in August, but it is subject to approval by regulatory authorities and Kopy Goldfields’s shareholders at an annual general meeting slated for June 30.

One of the conditions of the deal is further listing on the Nasdaq First North.

(71.1012 rubles – U.S. $1)

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