TSX: ELD NYSE: EGO
VANCOUVER, July 10, 2017 /CNW/ - Eldorado Gold Corporation
(the "Company" or Eldorado") (TSX: ELD, NYSE: EGO) is pleased to announce the successful
completion of the plan of arrangement (the "Arrangement") involving Integra Gold Corp. ("Integra") (TSXV: ICG) originally
announced on May 15, 2017. The Arrangement was approved by the shareholders of Integra at its
special meeting on July 4, 2017 and received approval from the Supreme Court of British Columbia on July 7, 2017.
Pursuant to the Arrangement, Integra shareholders will collectively receive, for all the issued common shares of Integra that
Eldorado did not already own, approximately CAD$129 million cash
and 77 million common shares of Eldorado (representing approximately 10% of the total issued common shares of Eldorado,
post-completion of the Arrangement).
Integra will continue as a wholly-owned subsidiary of Eldorado and Integra common shares will
be delisted from the TSXV as soon as practicable.
Eldorado's President and CEO, George Burns, commented, "This
is a very important transaction for Eldorado and we are pleased with the votes of support from
Integra shareholders. Eldorado is looking forward to expanding our growing business to
Canada. Our experience in building and operating mines, combined with the experience from our
new team in Quebec, will enhance our long-term growth profile and value proposition for all
stakeholders."
About Eldorado Gold
Eldorado is a leading intermediate gold producer with mining, development and exploration
operations in Turkey, Greece, Romania, Serbia and Brazil. The Company's success to date is based on a highly skilled and dedicated
workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with the communities
where it operates. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD)
and the New York Stock Exchange (NYSE: EGO).
Cautionary Note Regarding Forward Looking Statements
Certain of the statements made and information provided in this press release are forward-looking statements or information
within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as
"plans", "expects", "is expected", "budget", "continue"", "projected", "scheduled", "estimates", "forecasts", "projected",
"intends", "anticipates", or "believes" or the negatives thereof or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such
forward-looking statements or information include, but are not limited to, statements or information with respect to the
completed Arrangement.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to
be materially different from any future results, performance or achievements expressed or implied by such forward-looking
statements or information.
We have made certain assumptions about the forward-looking statements and information, including assumptions about the
geopolitical, economic, permitting and legal climate that we operate in; the future price of gold and other commodities; exchange
rates; anticipated costs and expenses; production, mineral reserves and resources and metallurgical recoveries, the impact of
acquisitions, dispositions, suspensions or delays on our business and the ability to achieve our goals.
Even though our management believes that the assumptions made and the expectations represented by such statements or
information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be
accurate. Many assumptions may be difficult to predict and are beyond our control.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those described in forward-looking statements or information.
These risks, uncertainties and other factors include, among others, the following: geopolitical and economic climate
(global and local), risks related to mineral tenure and permits; gold and other metal price volatility; mining operational and
development risk; foreign country operational risks; risks of sovereign investment; regulatory environment and restrictions,
including environmental regulatory restrictions and liability; discrepancies between actual and estimated production, mineral
reserves and resources and metallurgical recoveries; risks related to impact of the sale of our Chinese assets on the Company's
operations; additional funding requirements; currency fluctuations; litigation risks; community and non-governmental organization
actions; speculative nature of gold exploration; dilution; share price volatility; competition; loss of key employees; and
defective title to mineral claims or property, as well as those factors discussed in the sections entitled "Forward-Looking
Statements" and "Risk factors in our business" in the Company's most recent Annual Information Form & Form 40-F. The
reader is directed to carefully review the detailed risk discussion in our most recent Annual Information Form filed on SEDAR
under our Company name, for a fuller understanding of the risks and uncertainties that affect the Company's business and
operations.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue
reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to
update forward-looking statements and information continually as conditions change and you are referred to the full discussion of
the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada and the U.S.
SOURCE Eldorado Gold Corporation
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