Merger brings Copperstone and Brewery Creek mines under one umbrella

Under the terms of the agreement, all the issued and outstanding common shares of Golden Predator would be exchanged for common shares of Arizona on the basis of 1.65 common shares of Arizona a common share of Golden Predator.

Upon completion of the transaction, existing Arizona and Golden Predator shareholders would own about 55% and 45% of the combined company common shares, respectively.

“The combined company will provide for stronger peer positioning amongst gold producers as we advance Copperstone to production in the very near term, and continue to advance Brewery Creek towards a re-start decision,” said Arizona CEO and director Giulio Bonifacio.

Bonifacio would be the merged company’s president and CEO, while Golden Predator executive chair William Sherriff would take up the position of nonexecutive chairperson.

John Galassini would be COO, Dale Found would be CFO and Michael Maslowski VP technical services and exploration. Janet Lee-Sheriff, current CEO of Golden Predator, would continue in an advisory role with the combined company.

“I have long been aware of and admired the Copperstone project, from its days as an openpit mine to its current incarnation as an underground operation. Golden Predator shareholders shall benefit from this rational consolidation and increased scale,” commented Sherriff.

Closing of the transaction is subject to the receipt of applicable regulatory approvals and the satisfaction of certain other closing conditions. Closing is expected to occur in September.