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TSX:P NYSE:PPP TSX:BRD NYSE:BRDTORONTO,
Feb. 27, 2014 /PRNewswire/ -
Primero Mining Corp. ("Primero" or the "Company") (TSX:P; NYSE:PPP) and Brigus Gold Corp ("Brigus") (TSX:BRD; NYSE:BRD) are pleased to announce the positive results of their respective shareholder votes to approve the previously announced plan of arrangement ("Arrangement"), whereby Primero will acquire all of the outstanding common shares of Brigus. The acquisition is expected to close on
March 5, 2014.Brigus' principal assets are the wholly owned Black Fox mine and mill, and adjoining properties, Grey Fox and Pike River in the Timmins Gold District of
99.90% of the shares represented at Primero's special shareholders' meeting held earlier today were voted in favour of a special resolution authorizing the issuance of Primero common shares pursuant to the Arrangement.
99.08% of the shares represented at
Brigus' special shareholders' meeting held earlier today voted in favour of the Arrangement.
Brigus shareholders will receive 0.175 of a Primero common share, cash consideration of
$0.000001, and 0.1 of a common share in the capital of a newly incorporated company, Fortune Bay Corp., which will own
Ontario assets, for each
Brigus share owned.
Primero Mining Corp. is a Canadian-based precious metals producer and owns 100% of the
San Dimas gold-silver mine and 100% of the Cerro del Gallo gold-silver-copper development project in
Mexico. Primero offers
immediate exposure to un-hedged, low cash cost gold production with a substantial resource base in a politically stable jurisdiction. The Company has intentions to become an intermediate gold producer by building a portfolio of high quality, low cost precious metals assets in the Americas.