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Yamana acquires Extorre

Yamana has completed its acquisition of Extorre.

22 August 2012

Merger and acquisition consultants could have supported Yamana Gold recently, as the enterprise has completed its purchase of Extorre Gold Mines.

Yamana has bought every outstanding and issued share of Extorre, which received the final approval of the court on August 21st.

During a special meeting of Extorre shareholders held on August 15th, attendees overwhelmingly voted in favour of the transaction.

Canadian-based Yamana has gold development, expansion and production assets in Columbia, Mexico, Chile and Argentina and intends to enhance this base, partially by targeting relevant American gold consolidation schemes.

The acquisition has added a number of other development and exploration stage precious metal developments, including gold and silver deposit Cerro Moro.

Chairman and chief executive officer of Yamana Peter Marrone said:  "We believe this asset will deliver significant value to Yamana's shareholders."

"By the end of the year, we expect to have a definitive plan for exploration and development," the business leader added.

Posted by David Gleck

Source: Yamana press release, August 22nd

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