/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, Sept. 19, 2013 /CNW/ - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX: SUE) (BVL:SUE) (OTCQX:SDDDF) is
pleased to announce that it has entered into an agreement with National
Bank Financial Inc. and Scotiabank as co-lead underwriters, on behalf
of a syndicate of underwriters (the "Underwriters"), for the issuance
of 39,300,000 common shares (the "Shares") of the Company, on a bought
deal basis, at a price of $1.02 per Share for gross proceeds of
$40,086,000 (the "Offering").
The Company will also grant to the Underwriters an option, exercisable
at any time until 5:00 p.m. on the 30th day following the closing, to purchase up to an additional 5,895,000
Shares.
The net proceeds of the Offering will be used to help fund the
development of the Shahuindo Project and for general corporate
purposes.
The Shares will be offered by way of a short form prospectus to be filed
in all of the provinces of Canada pursuant to National Instrument
44-101 Short Form Prospectus Distributions.
The Offering is scheduled to close on or about October 10, 2013 and is
subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval of the
Toronto Stock Exchange and the securities regulatory authorities.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "1933 Act"), or any
state securities laws and may not be offered or sold within the United
States or to, or for the account or benefit of U.S. persons (as defined
in Regulation S under the 1933 Act) absent such registration or an
applicable exemption from such registration requirements.
About Sulliden Gold Corporation Ltd.
Sulliden is a mineral exploration and development company focused on
advancing its 100% owned Shahuindo project to production. Currently in
its permitting phase, this low capital and operating cost gold and
silver mine project is located in a prolific gold-producing district in
northern Peru. A September 2012 Feasibility Study (based on $1,415 Gold
and $27 Silver) on the foundation phase of the project estimates an
initial CAPEX of $131.8 million that will support an annual mining rate
of 3.65 million tonnes producing approximately 90,000 of gold
equivalent ounces for 10.4 years at cash operating costs of $552/oz.
This initial mine scenario features a pre tax IRR of 52.2% and post-tax
IRR of 37.8%. The Feasibility Study considers only approximately 40% of
the gold ounces from the total oxide mineral resource and the Company
intends to expand its operation once in production. Additional mineral
growth from exploration drilling on defined targets adjacent to the
current resource is also anticipated. Sulliden is led by a proven
management team with hands-on experience developing and operating mines
in Latin America. The foregoing contains forward-looking statements
with respect to CAPEX, annual mining rate, annual production, length of
mine life and IRR that are based on the assumptions and subject to
certain risk factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially
different from those expressed, as outlined in detail in our technical
report entitled "Technical Report on the Shahuindo Heap Leach Project,
Cajabamba, Peru", dated November 9, 2012, which is available at www.sedar.com. See also cautionary statement regarding forward-looking information
below.
Sulliden shares are listed on the Toronto Stock Exchange (TSX) under the
symbol "SUE", on the Bolsa de Valores, Lima (BVL), also under the
symbol "SUE", and on the premier tier of the U.S. Over-the-Counter
market (OTCQX) under the symbol "SDDDF".
The technical information provided in this news release was reviewed and
approved by Joseph C. Milbourne, Sulliden's VP Technical Services and
Operations, and a qualified person for the purposes of National
Instrument 43-101.
On behalf of Sulliden Gold Corporation Ltd.:
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Peter Tagliamonte
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Justin Reid
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Chairman and CEO
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President and Director
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Caution regarding forward-looking information:
This press release contains "forward looking information" within the
meaning of applicable Canadian securities legislation. Forward looking
information includes without limitation, statements regarding the
impact of the DIA approval on the company and its implications on the
permitting process and, the size and quality of the company's mineral
resources, progress in development of mineral properties, future
capital and operating expenses, future metal prices, the future
financial or operating performance of the Company, the prospective
mineralization of the properties, planned exploration programs and
anticipated production schedule. Generally, forward looking information
can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: general
business, economic, competitive, geopolitical and social uncertainties;
the actual results of current exploration activities; other risks of
the mining industry and the risks described in the annual information
form of the Company. Although the Company has attempted to identify
important factors that could cause actual results to differ materially
from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward looking information.
The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
SOURCE Sulliden Gold Corporation Ltd.
