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The combined entity will immediately become a sustainable dividend payer, underpinned by a healthy balance sheet and expected robust free cash flow generation, following the combined building of three long life gold mines and the acquisition of the high grade Massawa project from Barrick, over the past several years. * La Mancha has committed to invest $200 million in support of the Combination to further strengthen the balance sheet.
Teranga appointed a special committee of independent directors to consider and make a recommendation with respect to the Combination. Based in part on the unanimous recommendation of the special committee of Teranga, the Arrangement Agreement has been unanimously approved by the Board of Directors of Teranga. The Arrangement Agreement has also been unanimously approved by the Board of Directors of Endeavour.
For further information, please contact:Endeavour Mining CorporationMartino De Ciccio VP – Strategy & Investor Relations +44 203 640 8665 mdeciccio@Endeavourmining.com Vincic Advisors in Toronto John Vincic, Principal +1 402 6375 john@vincicdvisors.com Brunswick Group LLP in London Carole Cable, Partner +44 7974 982 458 ccable@brunswickgroup.com Teranga Gold CorporationTrish Moran VP, Investor Relations & Corporate Communications +1-416-607-4507 tmoran@terangagold.