TSX-V: MMM
OTCQX: MGHCF
FSE:
MI5
VANCOUVER, Jan. 29, 2019 /CNW/ - Minco Gold
Corporation (the "Company" or "Minco Gold") (TSX-V: MMM/OTCQX:
MGHCF/FSE:MI5) today announced that it has received conditional
acceptance from the TSX Venture Exchange ("TSXV") for a Normal
Course Issuer Bid ("NCIB") to purchase for cancellation,
during the 12-month period starting February
1, 2019, up to 2,538,244 or 5% of the current issued and
outstanding Common Shares. The program will end on
January 31, 2020 unless the maximum
amount of Common Shares is purchased before then or Minco Gold
provides earlier notice of termination. Purchases will be
made on the TSXV and alternative exchanges at the market price at
the time of acquisition. Payment for the shares will be in
accordance with TSXV policies. The Company reserves the right to
terminate the Bid earlier if it feels it is appropriate to do
so.
Minco Gold believes that the market price of its Common Shares
may not reflect their underlying value and the Board of Directors
has authorized this initiative because, in the Board's opinion, the
proposed purchase of Common Shares pursuant to the NCIB constitutes
an appropriate use of Minco Gold's funds, and the repurchase of its
Common Shares are expected to benefit all remaining shareholders by
increasing their equity interest in the Company.
The TSXV allows for purchase up to 2% of Common Shares in a
given 30-day period. No purchases will be made other than by
means of open market transactions or by such other means as may be
permitted under applicable securities laws during the term of the
Bid. The shares purchased by the Company will be returned to
treasury for cancellation.
Raymond James Ltd. will conduct the bid on behalf of the
Company. To the knowledge of the Company, no director, senior
officer or other insider of the Company currently intends to sell
any common shares under the Bid.
Shareholders can obtain a copy of the Notice of Intention to
Make a Normal Course Issuer Bid, without charge, by contacting the
Company.
About Minco Gold
Minco Gold Corporation (TSXV:MMM /
OTCQX: MGHCF / FSE:MI5) is a Canadian company focused on
identifying high-quality investment opportunities, primarily
in publicly traded and privately held corporations as well as
direct ownership stakes in resource projects. The Company owns 11
million shares of Minco Silver Corporation. For more information on
Minco Gold, please visit the website
at www.mincogold.com or contact Jennifer Trevitt at (604)-688-8002
or pr@mincomining.ca
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Minco Gold Corporation
