RNC Shareholders Support Merger With Yamana Gold
Friday February 17, 6:36 pm ET
TORONTO--(BUSINESS WIRE)--Feb. 17, 2006--Yamana Gold Inc. ("Yamana") (TSX:YRI - News; AMEX:AUY - News; LSE(AIM):YAU) and RNC Gold Inc. ("RNC" or the "Company") (TSX:RNC - News) today announced that the shareholders of RNC have overwhelmingly voted in favour of the proposed merger between RNC and Yamana. At a special meeting of the holders of common shares of RNC this morning, more than 99% of the votes cast were in support of the transaction; approximately 72% of all eligible shareholders participated.
Subject to final court approval, the transaction is expected to be completed at the end of the month.
About Yamana
Yamana is a Canadian gold producer with significant gold production, gold and copper-gold development stage properties, exploration properties and land positions in all major mineral areas in Brazil. Yamana expects to produce gold at intermediate company production levels by 2006 in addition to significant copper production by 2007. Company management plans to build on this base through the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil and elsewhere in Latin America.
Yamana has approximately 193.4 million shares outstanding. On completion of the RNC acquisition, Yamana would have 199.1 million shares outstanding.
