Centerra Gold Announces Completion of Global Arrangement Agreement with Kyrgyzaltyn and the Government of the Kyrgyz Republic
1 University Avenue, Suite 1500
Toronto, ON
M5J 2P1
tel 416-204-1953
fax 416-204-1954
www.centerragold.com
1
NEWS RELEASE
Centerra Gold Announces Completion of Global Arrangement Agreement with
Kyrgyzaltyn and the Government of the Kyrgyz Republic
Toronto, Canada, July 29, 2022: Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG)
(NYSE: CGAU) today announced the closing of the previously announced global arrangement
agreement (the “Arrangement Agreement”) with Kyrgyzaltyn JSC (“Kyrgyzaltyn”) and the
Government of the Kyrgyz Republic relating to the disposition of Centerra’s ownership of the
Kumtor mine and investment in the Kyrgyz Republic and the termination of Kyrgyzaltyn ’s
involvement with the Company (the “Transaction”).
As a result of the completion of the Transaction, Centerra has purchased and cancelled all of
Kyrgyzaltyn’s 77,401,766 Centerra common shares in exchange for, among other things,
Centerra’s 100% equity interest in its two Kyrgyz subsidiaries, and indirectly, the Kumtor mine
(with Kyrgyzaltyn and the Kyrgyz Republic assuming all responsibility for the Kumtor mine,
including all reclamation and environmental obligations), and aggregate cash payments of
approximately US$85 million (a portion of which was withheld on account of Canadian
withholding taxes payable by Kyrgyzaltyn). As contemplated by the Arrangement Agreement, the
parties have, among other things, provided full and final releases of all claims related to the Kumtor
mine. In addition, Kyrgyzaltyn’s two director nominees, Dushen Kasenov and Nurlan Kyshtobaev,
have resigned from Centerra’s Board of Directors , and the Restated Shareholders Agreement
between, among others, Centerra and Kyrgyzaltyn has terminated.
As a result of the purchase and cancellation of a total of 77,401,766 Centerra commo n shares
previously held by Kyrgyzaltyn pursuant to the Transaction, the Company has 220,083,541
Centerra common shares outstanding as at the date hereof.
Further details on the terms of the Arrangement Agreement and the Transaction can be found in
Centerra’s management information circular in respect of the special meeting of Centerra
shareholders held on July 25, 2022 to approve the Transaction, a copy of which is available on
SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.
About Centerra Gold
Centerra Gold Inc. is a Canadian -based gold mining company focused on operating, developing,
exploring and acquiring gold and copper properties in North America, Turkey, and other markets
worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada,
and the Öksüt Mine in Turkey. The Company also owns the Goldfield District Project in Nevada,
1 University Avenue, Suite 1500
Toronto, ON
M5J 2P1
tel 416-204-1953
fax 416-204-1954
www.centerragold.com
2
United States, the Kemess Underground Project in British Columbia, Canada, and owns and
operates the Molybdenum Business Unit in the Unit ed States. Centerra’s shares trade on the
Toronto Stock Exchange (“TSX”) under the symbol CG and on the New York Stock Exchange
(“NYSE”) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.
For more information:
Toby Caron
Treasurer and Director, Investor Relations
(416) 204-1694
Shae Frosst
Manager, Investor Relations
(416) 204-2159
Additional information on Centerra is available on the Company’s website at
www.centerragold.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.