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GeoProMining completes US$97.5 million take-over of Sterlite Gold

Fasken
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Overview

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Sterlite Gold

On September 27, 2007, GeoProMining Ltd. announced that 253,526,305 common shares of Sterlite Gold Ltd., representing approximately 95.6% of the outstanding common shares of Sterlite Gold on a fully-diluted basis, were deposited to the offer made by GeoProMining to acquire all of the outstanding common shares of Sterlite Gold for US$0.3845 in cash per common share, for total consideration of $97,480,864. GeoProMining also announced that it intended to acquire the remaining Sterlite Gold common shares by means of a statutory compulsory acquisition under Part 16 of the Business Corporations Act (Yukon) at the same price as the offer price, and to de-list the common shares from the Toronto Stock Exchange and to cause Sterlite Gold to cease to be a reporting issuer. The Special Committee of Sterlite Gold was advised in this transaction by Krisztian Toth, John Turner and John Sabetti of Fasken Martineau.

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