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Newmont Mining Canadian subsidiary to redeem all exchangeables in 2014
By Toni Weeks
San Luis Obispo, Calif., Dec. 11 - Newmont Mining Corp. of Canada Ltd., a subsidiary of Newmont Mining Corp., intends to redeem all of its outstanding exchangeable shares, other than those held by Newmont Mining and its affiliates, according to a press release.
The redemption will occur during the first half of 2014, but not before Feb. 14.
Newmont Holdings ULC has elected to exercise its right to purchase all of the outstanding exchangeable shares from the holders on the redemption date. Holders will receive one share of common stock of Newmont, plus a cash payment for accrued dividends, if any, per each share exchanged.
Greenwood Village, Colo.-based Newmont Mining is a gold producer.
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