Monday 24th October 2016

Resource Clips

Detour Gold to buy Trade Winds Ventures for $84M

Resource Clips - essential news on junior gold mining and junior silver miningDetour Gold Corp TSX:DGC and Trade Winds Ventures Inc TSXV:TWD announced Detour’s acquisition of Trade Winds for $84 million. Trade Winds shareholders will receive 0.0142 of a Detour share and $0.0001 in cash for each Trade Winds share held. Based on Detour’s Sept. 23, 2011 share price, this represents total consideration of $0.455 per Trade Winds share and a premium of 57% to Trade Winds’ closing price on Sept. 23. Based on the respective 20-day volume-weighted average prices of Detour Gold and Trade Winds as at Sept. 23, the consideration represents a premium of 61%.

Trade Winds’ principal assets are its 50/50 joint venture with Detour in the Block A Property, adjacent to Detour’s Detour Lake Project, and the wholly-owned Gowest Property, also located in the Detour Lake area.

Read more about Trade Winds Ventures and Detour Gold here.

View Company Profile

Detour Gold Corp
Gerald Panneton
or Laurie Gaborit
IR Director

Trade Winds Ventures Inc
Ian D. Lambert
or Terry McGee
Investor Relations
866.698.9187 x 228

by Greg Klein

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