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| August 26, 2010 --- Vol. 04, No. 34 | August 2010
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Northwest Territories
DIAMONDS – Kinross Gold Corp. Aug. 25 reported the completion of its sale of the 22.5 percent interest it owned in a partnership that holds Harry Winston Diamond Corporation’s 40 percent interest in the Diavik Diamond Mines joint venture to Harry Winston for US$220 million. The purchase price is comprised of US$50 million cash, about 7.1 million Harry Winston common shares (with a value of about US$100 million at the time that the transaction was announced), and a note payable in the amount of US$70 million and maturing in 12 months. The note bears interest at a rate of 5 percent per annum and can be repaid in cash or, subject to certain limitations, shares issued by Harry Winston to Kinross. As a result of the previously completed sale of Kinross’ 15.2 million common shares in Harry Winston, Kinross now holds some 7.1 million Harry Winston common shares, representing about 8.5 percent of the diamond producer’s issued and outstanding common shares.
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