May 11, 2017 / 10:13 AM / a year ago

BRIEF-Newmont Mining Corp to invest approximately U.S.$109 mln for 19.9 pct ownership of Continental Gold Inc

May 11 (Reuters) - Continental Gold Inc:

* Newmont Mining Corp- announced an agreement to invest approximately U.S.$109 million for 19.9 percent ownership of Continental Gold Inc

* Newmont Mining - agreed to purchase 37.38 million common shares of continental in a non-brokered private placement at a price of C$4.00 per share.

* Newmont Mining Corp- terms of investment agreement include Newmont’s right to participate in future equity issuance to maintain its ownership stake

* Newmont Mining Corp- terms of investment agreement include Newmont holding a seat on continental’s board of directors

* Newmont Mining - terms of agreement include two cos establishing joint technical and sustainability committees and strategic exploration alliance Source text for Eikon: Further company coverage:

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