Newmont Files Early Warning Report

Rhea-AI Summary

Newmont (NYSE: NEM) announced that its wholly-owned subsidiary, Newcrest Canada Holdings Inc., has sold all 14,674,056 common shares of Azucar Minerals to Almadex Minerals and certain directors and officers of Azucar. The transaction, completed on October 21, 2024, was valued at $220,110.84 ($0.015 per share). This sale represents Newmont's complete divestment of its approximately 19.9% stake in Azucar, reducing its ownership from 19.9% to 0%. The transaction was executed under the private agreement exemption of National Instrument 62-104.

Insights

Financial Analyst

This transaction represents a minor divestment for Newmont, with negligible financial impact given the small size of $220,110.84. The sale of Azucar Minerals stake at $0.015 per share appears to be a strategic portfolio cleanup following Newmont's recent Newcrest acquisition. For a company with a market cap over $51 billion, this sale represents less than 0.001% of Newmont's value. The private agreement structure suggests an efficient exit from a non-core holding, though the low price per share indicates value in the investment. This divestment aligns with typical post-merger portfolio optimization but has minimal impact on Newmont's overall financial position or strategy.

DENVER--(BUSINESS WIRE)-- Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (together with its affiliates, “Newmont” or the “Company”) announced today that Newcrest Canada Holdings Inc. (the “Vendor”), a wholly-owned subsidiary of Newmont, sold all 14,674,056 common shares of Azucar Minerals Ltd. (“Azucar”) held by the Vendor to Almadex Minerals Ltd. (“Almadex”) and certain directors and officers of Azucar (collectively with Almadex, the “Purchasers”), for an aggregate purchase price of $220,110.84, being $0.015 per share (the “Transaction”). The Transaction was completed pursuant to a share purchase agreement among the Vendor and the Purchasers dated as of October 21, 2024 (the “Share Purchase Agreement”).

Pursuant to the Transaction, the Vendor sold 14,674,056 common shares of Azucar (“Azucar Shares”), representing approximately 19.9% of the issued and outstanding Azucar Shares as of the date of the Share Purchase Agreement. Accordingly, the disposition of the Vendor’s Azucar Shares represents a decrease in Newmont’s ownership from approximately 19.9% to 0% of the issued and outstanding Azucar Shares.

The Vendor’s Azucar Shares were sold in reliance on the “private agreement exemption” in Section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids (“NI 62-104”). In particular, the purchase of the Azucar Shares was made from not more than 5 persons in the aggregate, the bid was not made generally to security holders of the class of securities that was the subject of the bid, and the value of the consideration paid by the Purchasers for the Azucar Shares, including brokerage fees and commissions, was not greater than 115% of the market price of the Azucar Shares at the date of the bid as determined in accordance with section 1.11 of NI 62-104.

This press release is issued pursuant to the early warning provisions of Canadian securities legislation. To obtain a copy of the Early Warning Report filed by Newmont under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, please contact Neil Backhouse at +1 (303) 837-5002 or investor.relations@newmont.com. A copy of the Early Warning Report to be filed by Almadex in connection with the transactions described above will be available on the Almadex’s SEDAR+ profile at www.sedarplus.ca.

Newmont’s address is 6900 E Layton Avenue, Suite 700, Denver, CO 80237.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.

At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241107569334/en/

Investor Contact – Global

Neil Backhouse

investor.relations@newmont.com

Media Contact – Global

Jennifer Pakradooni

globalcommunications@newmont.com

Source: Newmont Corporation

FAQ

How many Azucar Minerals shares did Newmont (NEM) sell in October 2024?

Newmont sold 14,674,056 common shares of Azucar Minerals , representing approximately 19.9% of the issued and outstanding shares.

What was the total value of Newmont's (NEM) Azucar Minerals share sale in October 2024?

The total value of the transaction was $220,110.84, with shares sold at $0.015 per share.

What is Newmont's (NEM) remaining ownership stake in Azucar Minerals after the October 2024 sale?

Following the transaction, Newmont's ownership in Azucar Minerals decreased from 19.9% to 0%, representing a complete divestment.