Lundin GOLD Reports Increase IN Positions BY Major Shareholders
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NEWS RELEASE
LUNDIN GOLD REPORTS INCREASE IN POSITIONS BY
MAJOR SHAREHOLDERS
December 5, 2019 (Vancouver, Canada) Lundin Gold Inc. ("Lundin Gold" or the "Company")
(TSX: LUG, Nasdaq Stockholm: LUG) reports that its two largest shareholders have each
agreed to increase their interest in the Company through the acquisition of the Company’s
common shares from Kinross Gold Corporation.
A subsidiary of Newcrest Mining Limited (“Newcrest”) has agreed to acquire 10,9 77,502
common shares of Lundin Gold on December 5, 2019 , resulting in an aggregate holding of
71,470,787 common shares. The acquisition will increase Newcrest’s interest in Lundin Gold
from approximately 27% to approximately 32% of the outstanding common shares of Lundin
Gold.
Lorito Holdings S.à.r.l. and Zebra Holdings and Investments S.à.r.l., two companies owned by
a trust whose settlor was the late Adolf H. Lundin (the "Lundin Family Trust"), have agreed to
acquire 8,392,714 common shares of Lundin Gold on Dec ember 5, 2019 which, when
combined with the holding s Nemesia S.à.r.l., results in an aggregate holding by companies
controlled by the Lundin Family Trust of 60, 114,566 common shares. The acquisition will
increase the Lundin Family Trus t’s interest in Lundin Gold from approximately 23% to
approximately 27% of the outstanding common shares of Lundin Gold.
The acquisitions by Newcrest and the Lundin Family Trust are in accordan ce with the
shareholding limits set out in the subscription agreement between Lundin Gold Inc. and
Newcrest dated February 24, 2018.
About Lundin Gold
Lundin Gold , headquartered in Vancouver, Canada , wholly -owns the Fruta del Norte gold
project in southeast Ecuador. The Company's board and management team have extensive
expertise in mine operations and are dedicated to advancing Fruta del Norte to commercial
production in the second quarter of 2020.
The Company operates with transparency and in accordance with international best
practices. Lundin Gold is committed to delivering value to its shareholders, while
simultaneously providing economic and s ocial benefits to impacted communities, fostering a
healthy and safe workplace and minimizing the environmental impact. The Company believes
that the value created through the development of Fruta del Norte will benefit its shareholders,
the Government and the citizens of Ecuador.
Additional Information
The information in this release is subject to the disclosure requirements of Lundin Gold under
the EU Market Abuse Regulation. This information was submitted for publication December 5,
2019 at 9:30 am PT through the contact persons set out below.
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For more information, please contact
Lundin Gold Inc.
Ron F. Hochstein
President and CEO
+593 2-299-6400
+604-806-3589
Lundin Gold Inc.
Sabina Srubiski
Manager, Investor Relations
+1-604-806-3089
www.lundingold.com
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