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10.08.98 - KINROSS GOLD CORPORATION AND LA TEKO ANNOUNCE PROPOSED BUSINESS COMBINATION

KINROSS GOLD CORPORATION AND LA TEKO ANNOUNCE PROPOSED BUSINESS COMBINATION Toronto, Ontario - KINROSS GOLD CORPORATION (TSE-K; NYSE-KGC) ("Kinross'') and La Teko Resources Ltd. ("La Teko'') are pleased to announce that they have agreed to enter into a business combination whereby shareholders of La Teko are to receive one Kinross share for each 2.65 La Teko shares they hold.

The proposed merger is subject to La Teko shareholder approval, the approval of the board of directors of Kinross, the execution of a definitive agreement and regulatory approval.

An information circular, including a fairness opinion and income tax consequences, will be prepared and forwarded to La Teko shareholders prior to the La Teko shareholder meeting.

Kinross is a producer of precious metals incorporated under the laws of the Province of Ontario and headquartered in Toronto, Canada. Kinross has mines and property interests located in the U.S., Canada, Chile, Russia and Zimbabwe. The common shares of Kinross are listed on The Toronto Stock Exchange and the New York Stock Exchange.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction. Any such offer or sale will be made only by means of a prospectus or pursuant to available exemptions from registration under the Securities Act of 1933

Cautionary Statement on Forward-Looking Information

 

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