Published on: 3/5/2014 12:23:13 PM Print | Font Sizes:  Normal Text Large Text

Deal closes between Primero, Brigus

By: Northern Ontario Business staff

The acquisition of Brigus Gold Corp. by Primero Mining Corp. concluded on March 5.

Primero has acquired all outstanding shares of Brigus, whose principal assets are the Black Fox Mine and mill and its adjoining properties, Grey Fox and Pike River, in Timmins.

“The closing of the Brigus transaction transforms Primero into a diversified, Americas-based mid-tier gold producer with a pipeline of growth projects,” Joseph Conway, president and CEO, said in a release.

Primero’s other gold properties are located in Mexico and include the producing San Dimas Mine, the Cerro del Gallo development project, and the Ventanas exploration project.

“The Black Fox Mine provides Primero entry into a historic and prospective gold belt and leverages our technical expertise in underground mining,” Conway said. “Furthermore, our balance sheet remains strong and our market capitalization and liquidity have improved providing exposure to a broader group of investors. We welcome Brigus shareholders and look forward to investing in the Black Fox and Grey Fox assets to create significant value for all of our stakeholders.”

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