Centerra Gold Announces Intention to make a Normal Course Issuer Bid
NEWS RELEASE
Centerra Gold Announces Intention to make a Normal Course Issuer Bid
Toronto, Canada, October 4, 2022: Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) (“Centerra” or the
“Company”) is pleased to announce that, subject to the approval of the Toronto Stock Exchange (“TSX”),
it intends to proceed with a normal course issuer bid (“NCIB”) to purchase for cancellatio n up to an
aggregate of 15,610,813 common shares in the capital of the Company (“Common Shares”), representing
approximately 7.1% of Centerra’s total issued and outstanding Common Shares, or 10% of the public float.
As of September 30, 2022, Centerra had 220,086,775 issued and outstanding Common Shares.
Centerra believes that the Common Shares have been trading in a price range which does not adequately
reflect the value of such shares in relation to Centerra’s assets and its future prospects. As a result, Centerra
believes that the NCIB will provide the Company with a flexible tool to deploy a portion of its cash balance
to, depending upon future price movements and other factors, repurchase Common Shares while preserving
its strong balance sheet position.
Centerra will file a notice of intention to make a NCIB with the TSX and , subject to the approval of the
TSX, Centerra may purchase Common Shares under the NCIB over a twelve-month period. Under the
NCIB, daily purchases would be limi ted to 226,201 Common Shares, other than purchases made under
block purchase exemptions. Once the NCIB is commenced, the exact timing and amount of any purchases
will depend on market conditions and other factors. Centerra will not be obligated to acquire any Common
Shares and may suspend or discontinue purchases under the NCIB at any time. Any purchases made under
the NCIB will be made at market price at the time of purchase through the facilities of the TSX and/or
alternative Canadian trading systems in accordance with applicable securities laws and stock exchange
rules.
Centerra intends to establish an automatic share purchase plan in connection with its NCIB to facilitate the
purchase of Common Shares during times when Centerra would ordina rily not be permitted to purchase
Common Shares due to regulatory restrictions or self-imposed black-out periods. Before entering a black-
out period, Centerra may, but is not required to, instruct the broker to make purchases under the NCIB based
on parameters set by Centerra in accordance with the automatic share purchase plan, applicable securities
laws and stock exchange rules.
Cautionary Note Regarding Forward-Looking Information
Information contained in this document which are not statements of historical facts may be “forward looking
information” for the purposes of Canadian securities laws and within the meaning of the United States
Private Securities Litigation Reform Act of 1995. Such forward -looking information involves risks,
uncertainties and other factors that could cause actual results, performance, prospects and opportunities to
differ materially from those expressed or implied by such forward looking information. The words “expect”,
“contemplate”, “may”, “will” , “intend” and similar expressio ns identify forward -looking information. In
particular, such forward-looking statements include, but are not limited to, statements relating to the TSX’s
approval of the NCIB, Centerra’s intention to commence the NCIB and the timing, methods and quantity
of any purchases of Common Shares under the NCIB, the availability of cash for repurchases of Common
Shares under the NCIB, compliance with applicable laws and regulations pertaining to the NCIB,
Centerra’s perceptions of historical trends, current conditions and expected future developments, as well as
other considerations that are believed to be appropriate in the circumstances.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while
considered reasonable b y Centerra, are inherently subject to significant political, business, technical,
economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual
results to differ materially from those projected in the forward -looking information. Factors and
assumptions that could cause actual results or events to differ materially from current expectations include
the risk factors set forth in the section titled “Risk Factors” in the Company’s most recently filed Annual
Information Form, which is available on SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar.
There can be no assurances that forward -looking information and statements will prove to be accurate, as
many factors and future events, both known and unknown could cause actual results, performance or
achievements to vary or differ materially from the results, performance or achievements that are or may be
expressed or implied by the forward -looking statements contained or referred to herein. Accordingly, all
such factors should be considered carefully when making decisions with respect to Centerra, and
prospective investors should not place undue rel iance on forward looking information. Forward -looking
information contained herein is given as of the date of this press release. Centerra assumes no obligation to
update or revise forward-looking information to reflect changes in assumptions, changes in circumstances
or any other events affecting such forward-looking information, except as required by applicable law.
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, Türkiye, and other markets worldwide. Centerra
operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye.
Centerra also owns the Goldfield District Project in Nevada, U nited States, the Kemess Underground
Project in British Columbia, Canada, and owns and operates the Molybdenum Business Unit in the United
States and Canada. Centerra’s shares trade on the TSX under the symbol CG and on the NYSE under the
symbol CGAU. Centerra is based in Toronto, Ontario, Canada.
Additional information on Centerra is available on the Company’s web site at www.centerragold.com
and at SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar.
For more information:
Toby Caron
Treasurer and Director, Investor Relations
(416) 204-1694
Shae Frosst
Manager, Investor Relations
(416) 204-2159