Click here to close now.


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: or Rio Alto's SEDAR profile at


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.

Alexander Black
President & CEO
+511 625 9900
866.393.4493 (FAX)
[email protected]

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

Justin Reid
[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
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction....
IT data is typically silo'd by the various tools in place. Unifying all the log, metric and event data in one analytics platform stops finger pointing and provides the end-to-end correlation. Logs, metrics and custom event data can be joined to tell the holistic story of your software and operations. For example, users can correlate code deploys to system performance to application error codes.
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
As-a-service models offer huge opportunities, but also complicate security. It may seem that the easiest way to migrate to a new architectural model is to let others, experts in their field, do the work. This has given rise to many as-a-service models throughout the industry and across the entire technology stack, from software to infrastructure. While this has unlocked huge opportunities to accelerate the deployment of new capabilities or increase economic efficiencies within an organization, i...
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
Between the compelling mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how busine...
Chris Van Tuin, Chief Technologist for the Western US at Red Hat, has over 20 years of experience in IT and Software. Since joining Red Hat in 2005, he has been architecting solutions for strategic customers and partners with a focus on emerging technologies including IaaS, PaaS, and DevOps. He started his career at Intel in IT and Managed Hosting followed by leadership roles in services and sales engineering at Loudcloud and Linux startups.
JFrog has announced a powerful technology for managing software packages from development into production. JFrog Artifactory 4 represents disruptive innovation in its groundbreaking ability to help development and DevOps teams deliver increasingly complex solutions on ever-shorter deadlines across multiple platforms JFrog Artifactory 4 establishes a new category – the Universal Artifact Repository – that reflects JFrog's unique commitment to enable faster software releases through the first pla...
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet condit...
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
The APN DevOps Competency highlights APN Partners who demonstrate deep capabilities delivering continuous integration, continuous delivery, and configuration management. They help customers transform their business to be more efficient and agile by leveraging the AWS platform and DevOps principles.
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at @DevOpsSummit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.