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
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will shares the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...