Welcome!

News Feed Item

Rio Alto and Sulliden Complete Plan of Arrangement

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/05/14 -- Rio Alto Mining Limited ("Rio Alto" or the "Company") (TSX:RIO)(LMA:RIO)(NYSE:RIOM) and Sulliden Gold Corporation Ltd. ("Sulliden") (TSX:SUE)(LMA:SUE)(OTCQX:SDDDF) have completed the previously announced plan of arrangement (the "Arrangement"), pursuant to which Rio Alto acquired all of the issued and outstanding common shares of Sulliden ("Sulliden Shares"). As of today, and including the 151,694,886 Rio Alto common shares issued as consideration under the Arrangement, Rio Alto has 328,802,568 common shares issued and outstanding. No Rio Alto common shares were issued under the Arrangement in respect of the 26,966,292 Sulliden Shares that were held by Rio Alto immediately prior to the completion of the Arrangement. Please refer to the joint press release of Rio Alto and Sulliden dated May 28, 2014 for additional information regarding these Sulliden Shares. An additional 20,905,870 Rio Alto common shares have been reserved for issuance in connection with new Rio Alto options issued to the former option holders of Sulliden and in connection with the Rio Alto common shares that may be issued upon the exercise of existing warrants to purchase Sulliden common shares.

In connection with the Arrangement, two Sulliden nominees joined the Board of Directors of Rio Alto, being Mr. Peter Tagliamonte, the Co-Chairman and CEO of Sulliden prior to the Arrangement and Bruce Humphrey, a Director of Sulliden prior to the Arrangement.

Alex Black, President and Chief Executive Officer of Rio Alto, stated, "We are very excited about the prospects of Rio Alto and the value proposition we are able to deliver to our shareholders based on strong existing gold production at La Arena and future gold production at Shahuindo. The similarities and proximity of Shahuindo to our La Arena mine allow us to leverage the core skills of our management and operating teams and with the transaction now complete, we are eager to focus our efforts on increasing oxide reserves at La Arena and building Shahuindo. We have begun the process of integrating Sulliden's operations with our own and continue to identify value generative opportunities as we prepare to deliver on our commitment of gold production at Shahuindo by late 2015 or early 2016."

Former Sulliden shareholders were also issued 31,590,893 common shares in Sulliden Mining Capital Inc. ("SpinCo") that are expected to commence trading on the Toronto Stock Exchange on or about August 11, 2014 under the ticker symbol "SMC". Pursuant to the Arrangement, SpinCo assumed Sulliden's interests in the East Sullivan property near the town of Val D'Or in Quebec.

It is expected that Sulliden's shares will cease trading and will be delisted from the TSX, BVL and the OTCQX in approximately 2-3 business days in accordance with the rules of the TSX, BVL and OTCQX.

To learn more about Rio Alto Mining Limited, please visit: www.rioaltomining.com or Rio Alto's SEDAR profile at www.sedar.com.

ON BEHALF OF THE BOARD OF RIO ALTO MINING LIMITED

Alexander Black, President, Chief Executive Officer and Director

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of United States and Canadian securities laws, respectively. The use of any of the words "expect", "potential", "target", "anticipate", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning the timing of de-listing from the TSX, BVL and the OTCQX, and the date on which the SpinCo shares are expected to begin trading.

In respect of the forward-looking statements and information concerning the anticipated timing for delisting from the TSX and OTCQX and listing and trading of the SpinCo shares, Rio Alto and SpinCo have provided them in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the ability of Rio Alto and SpinCo to receive, in a timely manner, the regulatory approvals. This may change for a number of reasons, including inability to secure approvals in the time assumed. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times.

The forward-looking statements and information contained in this news release are made as of the date hereof and Rio Alto undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.

Contacts:
FOR FURTHER INFORMATION WITH RESPECT TO RIO ALTO, CONTACT:
Alexander Black
President & CEO
+511 625 9900
866.393.4493 (FAX)
[email protected]
www.rioaltomining.com

Alejandra Gomez
Investor Relations
604.628.1401
866.393.4493 (FAX)
[email protected]

FOR FURTHER INFORMATION WITH RESPECT TO SPINCO, CONTACT:
Justin Reid
CEO
416.216.5446
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...