GREY:CTMIF - Post by User
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dotchaseron Jul 06, 2007 2:17pm
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Post# 13048214
Stan the Mna!!
Stan the Mna!!Yamana Gold Inc.
TSX: YRI
AMEX: AUY
AIM: YAU
Desert Sun Mining Corp.
TSX: DSM
AMEX: DEZ
Apr 05, 2006 15:20 ET
Yamana Completes Acquisition of Desert Sun
TORONTO, ONTARIO--(CCNMatthews - April 5, 2006) - Yamana Gold Inc. ("Yamana") (TSX:YRI)(AMEX:AUY)(AIM:YAU) and Desert Sun Mining Corp. ("Desert Sun") (TSX:DSM)(AMEX:DEZ) today announced the completion of Yamana's previously announced acquisition of Desert Sun. Pursuant to the acquisition of Desert Sun, shareholders of Desert Sun will receive 0.6 of a Yamana common share for each Desert Sun common share upon submission of their Desert Sun shares together the requisite letter of transmittal. Yamana will issue approximately 63.9 million common shares in connection with the acquisition. Each outstanding warrant of Desert Sun is now exercisable to acquire 0.6 of a Yamana common share at an exercise price of Cdn.$2.50 per warrant ($4.17 per whole Yamana share) at any time on or before November 30, 2008. The warrants, which now trade under the symbol DSM.WT, are expected to commence trading under the symbol YRI.WT.A. on or about April 10, 2006.
About Yamana
Yamana is a Canadian gold producer with significant gold production, gold and copper-gold development stage properties, exploration properties, and land positions in all major mineral areas in Brazil. With the acquisition of Desert Sun, Yamana also owns the Jacobina Mine. Yamana expects to produce gold at intermediate company production levels in 2006 in addition to significant copper production by 2007. Management of Yamana plan to continue to build on this base through the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil and elsewhere in Latin America.