SINGAPORE – October 12, 2018 – OZD ASIA PTE Ltd. (“OZD”) announced that it has completed the acquisition of Centerra Gold Inc.’s (“Centerra”) (TSX: CG) Mongolian business unit, including the Boroo Gold Mine and processing facility and the Gatsuurt Gold Project, for net proceeds of US$35 million. OZD has purchased all of the outstanding shares and debt of Centerra Netherlands, BVBA which is the 100% direct shareholder of the Company’s Mongolian subsidiaries, Boroo Gold LLC and Centerra Gold Mongolia LLC (“CGM”).
Processing Facility at Boroo Gold Mine in Mongolia.
Under the purchase agreement, OZD will retain the US$5 million payment received in September 2018 and the additional US$5 million to be received by CGM from Steppe Gold LLC in respect of the previous sale of the ATO Project.
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is the largest Western-based gold producer in Central Asia.
OZD is a private, Singapore based company that focuses on emerging markets mining and metal assets by acquiring, financing and operating in order to bring value to its shareholders.