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LOGO FOR BATTLE MOUNTAIN GOLD
NEWS
IMMEDIATE RELEASE
CONTACT: JOSEPH J. BAYLIS
(713) 653-7207 OR
[email protected]
WEB PAGE: www.bmgold.com
BATTLE MOUNTAIN RECEIVES SHAREHOLDER APPROVALS FOR MERGER WITH NEWMONT
HOUSTON, January 5, 2001-- Battle Mountain Gold Company (BMG-NYSE, BMC-TSE)
announced today that its shareholders have approved the merger transaction
involving Battle Mountain and Newmont Mining Corporation. The merger was
approved by the holders of Battle Mountain common stock and Battle Mountain
Canada exchangeable shares, voting together with the common stock through a
special voting trust, and the holders of Battle Mountain convertible preferred
stock, voting separately. Additionally, the transaction was approved by the
holders of Battle Mountain Canada exchangeable shares at a special meeting of
Battle Mountain Canada held earlier today.
Under the previously announced merger agreement, each of Battle Mountain's
outstanding shares of common stock and exchangeable shares will be exchanged
for 0.105 shares of Newmont's common stock. In addition, each share of Battle
Mountain's convertible preferred stock will be exchanged for one share of
Newmont convertible preferred stock with substantially identical terms and
conditions. Upon completion of the merger, Battle Mountain will become a
wholly-owned subsidiary of Newmont. The transaction is expected to be
accounted for as a pooling-of-interests for financial reporting purposes and
is expected to close within a few days. Completion of the merger is subject
to satisfaction or waiver of the conditions set forth in the merger agreement.
more....
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PRIVATE SECURITIES LITIGATION REFORM ACT SAFE HARBOR
STATEMENT
This press release includes forward-looking information and statements about
Battle Mountain Gold Company that are intended to be covered by the safe
harbor for "forward-looking statements" provided by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are statements that
are not historical facts. These statements include financial projections and
estimates and their underlying assumptions; statements regarding plans,
objectives and expectations with respect to future operations, products and
services; and statements regarding future performance. Forward-looking
statements are generally identified by the words "expect," "anticipates,"
"believes," "intends," "estimates" and similar expressions. The
forward-looking information and statements in this press release are subject
to various risks and uncertainties, many of which are difficult to predict and
generally beyond the control of Battle Mountain, that could cause actual
results to differ materially from those expressed in, or implied or projected
by, the forward-looking information and statements. These risks and
uncertainties include those discussed or identified in the public filings with
the U.S. Securities and Exchange Commission (SEC) made by Battle Mountain;
risks and uncertainties with respect to the effect of gold price and foreign
exchange rate fluctuations, and general economic conditions such as changes in
interest rates and the performance of the financial markets, changes in
domestic and foreign laws, regulations and taxes, changes in competition and
pricing environments, the occurrence of significant natural disasters, civil
unrest and general market and industry conditions.
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