Eldorado Gold Announces Update to its Board of Directors and Completion of Redemption of $58.6 million of its Senior Secured Notes 

Rhea-AI Summary

Eldorado Gold Corporation announced the resignation of Dr. Michael Price from its Board effective September 30, 2020, as part of its succession planning. Judith Mosely has joined the Board as of September 1, 2020. Furthermore, the Company has successfully redeemed $58.6 million of its senior secured notes, affirming its commitment to debt reduction. George Burns, President and CEO, expressed gratitude for Dr. Price's decade of service and welcomed Judith Mosely to the Board. Eldorado Gold operates in multiple countries and trades on the TSX and NYSE under the symbol EGO.

Positive

• Successful redemption of $58.6 million in senior secured notes, indicating strong financial management.
• Board succession planning with the addition of Judith Mosely may strengthen leadership and strategic direction.

Negative

• Dr. Michael Price's departure could create continuity concerns within the Board.

VANCOUVER, British Columbia, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) announces that Dr. Michael Price will be stepping down from the Company’s Board effective September 30, 2020.  As previously announced on July 20, 2020, Judith Mosely joined the Board effective September 1, 2020.  This is consistent with Eldorado’s succession planning at the Board level.

The Company also reports that it has completed the redemption of $58.6 million of its senior secured notes. The Company announced that it had issued a redemption notice for these notes on July 30, 2020.

“On behalf of Eldorado and the Board of Directors, I would like to thank Mike for his ten years of service and substantial contributions to the Company.  I would also like to welcome Judith to the Board,” said George Burns, President and CEO. “We are also pleased to announce the closing of the redemption of $59 million of our senior secured notes, which demonstrates our continued commitment to reducing our debt.”

About Eldorado Gold

Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania and Brazil. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).

Contact

Investor Relations

Peter Lekich, Manager Investor Relations
604.687.4018 or 1.888.353.8166   peter.lekich@eldoradogold.com

Media

Louise Burgess, Director Communications & Government Relations
604.601.6679 or 1.888.363.8166   louise.burgess@eldoradogold.com

FAQ

What is the date of Dr. Michael Price's resignation from Eldorado Gold's Board?

Dr. Michael Price will resign from Eldorado Gold's Board effective September 30, 2020.

Who replaced Dr. Michael Price on the Board of Eldorado Gold?

Judith Mosely has joined Eldorado Gold's Board effective September 1, 2020.

What does the redemption of $58.6 million in senior secured notes signify for Eldorado Gold?

The redemption signifies Eldorado Gold's commitment to reducing its debt and improving its financial stability.

What is the stock symbol for Eldorado Gold?

Eldorado Gold trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol EGO.