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Newcrest Mining Limited Announces Option Grant to Nominee Director of SolGold plc

MELBOURNE, Australia, Aug. 10, 2017 (GLOBE NEWSWIRE) -- Newcrest Mining Limited announced today that Mr. Craig Jones, an employee of Newcrest Mining Limited and Newcrest’s nominee on the board of directors of SolGold plc (“SolGold”), received 2,250,000 ordinary share purchase options of SolGold (the “Options”). The Options were issued as part of a grant of director options to all of the directors of SolGold.  Each Option is exercisable into one ordinary share of SolGold (the “Ordinary Shares”) at an exercise price of UK £0.60. On an as-converted basis the 2,250,000 Options represent approximately 0.1% of the issued and outstanding Ordinary Shares as at the date hereof.

Prior to the grant of Options to Mr. Jones, Newcrest had beneficial ownership, through its subsidiary Newcrest International Pty Ltd (“NIPL”), of 219,772,271 Ordinary Shares and the right to acquire additional Ordinary Shares under certain contractual anti-dilution rights of NIPL, together representing 14.54% of the issued and outstanding Ordinary Shares. Newcrest acquired beneficial ownership of the Ordinary Shares it owns from treasury issuances pursuant to investment agreements with SolGold prior to SolGold’s listing on the TSX. The Ordinary Shares were acquired by Newcrest for investment purposes, and in the future, it may, from time to time, increase or decrease its investment in SolGold through market transactions, private agreements, treasury issuances or otherwise at any time subject to any applicable restrictions and depending on market conditions and any other relevant factors.

If Mr. Jones were to exercise the Options, Mr. Jones would own 2,250,000 Ordinary Shares and Newcrest would beneficially own 219,772,271 Ordinary Shares, which combined is equal to 222,022,271 Ordinary Shares and together with the existing right to acquire anti-dilution shares, represents approximately 14.64% of the issued and outstanding Ordinary Shares as at the date hereof.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR profile of SolGold at www.sedar.com. To obtain a copy of the early warning report, you may also contact Marie Tsaganos on +61 3 95225792. Newcrest’s address is Level 8, 600 St Kilda’s Road, Melbourne, Victoria, Australia, 3004.

Forward-Looking Information

Certain statements in the news release are forward-looking statements and are prospective in nature, including statements with respect to Newcrest’s future intentions regarding the securities of SolGold. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Newcrest is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

/EIN News/ --

Distribution channels: Mining