Wednesday 28th September 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

Contact:
Detour Gold Corp
Gerald Panneton
President/CEO
416.304.0800
or Laurie Gaborit
IR Director
416.304.0581

Trade Winds Ventures Inc
Ian D. Lambert
President/CEO
416.840.9483
or Terry McGee
Investor Relations
866.698.9187 x 228

by Greg Klein

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