Newmont Sells Two Million Warrants of Lydian in a Private Transaction for Proceeds of CAD$100,000
DENVER, Dec. 2, 2009 (Canada NewsWire via COMTEX News Network) -- Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") announced today that its wholly owned subsidiary, Newmont Mineral Holdings B.V., disposed of 2 million warrants of Lydian International Inc. ("Lydian") (TSX: LYD) in a private transaction at a price of CAD$0.05 per warrant. The warrants have an expiration date of January 10, 2010 and an exercise price of 31.25 pence, or approximately CAD$0.55 per warrant. After giving effect to this transaction, Newmont owns an aggregate of 5,150,000 ordinary shares of Lydian, and 500,000 warrants with an expiration date of December 27, 2009 and an exercise price of CAD$1.55. Based on information provided by the Toronto Stock Exchange, the 5,150,000 ordinary shares represent approximately 10.11% of the outstanding ordinary shares of Lydian.
Newmont acquired its securities in Lydian for investment purposes. In the future, Newmont and its affiliates may increase (through the exercise of the warrants or otherwise) or decrease their ownership in the securities of Lydian depending on the business and prospects of Lydian as well as market conditions. Further information (including a copy of the report to be filed with Canadian securities regulators in connection with this transaction) can be obtained by contacting:
Newmont Mining Corporation
Web Site: http://www.newmont.com
SOURCE: Newmont Mining Corporation