TORONTO, Feb. 27, 2014 /PRNewswire/ - Primero Mining Corp. ("Primero" or the "Company") (TSX:P; NYSE: PPP) and Brigus Gold Corp
("Brigus") (TSX:BRD; NYSE: BRD) are pleased to announce the positive
results of their respective shareholder votes to approve the previously
announced plan of arrangement ("Arrangement"), whereby Primero will
acquire all of the outstanding common shares of Brigus. The acquisition
is expected to close on March 5, 2014.Brigus' principal assets are
the wholly owned Black Fox mine and mill, and adjoining properties,
Grey Fox and Pike River in the Timmins Gold District of Ontario,
99.90% of the shares represented at Primero's special shareholders'
meeting held earlier today were voted in favour of a special resolution
authorizing the issuance of Primero common shares pursuant to the
99.08% of the shares represented at Brigus' special shareholders'
meeting held earlier today voted in favour of the Arrangement. Brigus
shareholders will receive 0.175 of a Primero common share, cash
consideration of $0.000001, and 0.1 of a common share in the capital of
a newly incorporated company, Fortune Bay Corp., which will own Brigus'
non-Ontario assets, for each Brigus share owned.
Primero Mining Corp. is a Canadian-based precious metals producer and
owns 100% of the San Dimas gold-silver mine and 100% of the Cerro del
Gallo gold-silver-copper development project in Mexico. Primero offers
immediate exposure to un-hedged, low cash cost gold production with a
substantial resource base in a politically stable jurisdiction. The
Company has intentions to become an intermediate gold producer by
building a portfolio of high quality, low cost precious metals assets
in the Americas.
Brigus is a growing gold producer committed to maximizing shareholder
value through a strategy of efficient production, targeted exploration
and select acquisitions. Brigus operates the wholly owned Black Fox
Mine and Mill in the Timmins Gold District of Ontario, Canada. The
Black Fox Complex encompasses the Black Fox Mine and adjoining
properties in the Township of Black River‐Matheson, Ontario, Canada.
Brigus also owns the Goldfields Project located near Uranium City,
Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In
the Dominican Republic, Brigus has signed an agreement to sell its
remaining interests in three mineral exploration projects. In Mexico,
Brigus owns the Ixhuatan Project located in the state of Chiapas.
Additional information about Brigus and its projects is available on the
Brigus website at www.brigusgold.com and on SEDAR.