Centerra Gold completes global arrangement agreement with Kyrgyzaltyn and Kyrgyz gov't

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According to the company's statement, as a result of the completion of the transaction, Centerra has purchased and cancelled all of Kyrgyzaltyn's 77,401,766 Centerra common shares in exchange for, among other things, Centerra's 100% equity interest in its two Kyrgyz subsidiaries, and indirectly, the Kumtor mine, and aggregate cash payments of approximately US$85 million.

Centerra added that the parties have provided full and final releases of all claims related to the Kumtor mine. In addition, Kyrgyzaltyn's two director nominees have resigned from Centerra's Board of Directors, and the restated shareholders agreement between, among others, Centerra and Kyrgyzaltyn has terminated.

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