Coeur Announces Investment in Victoria Gold Corp.

Coeur Mining, Inc. (“Coeur” or the “Company”) today declared about entering into an agreement to acquire superlative undiluted common shares of Victoria Gold Corp. Which constitute as 11,067,714. (approximately 17.8%)

 (“Victoria”) from Orion Co-VI Ltd. (“Orion”), at an amount of C$13.20 per share reflecting a discount of 5% to the series of a 30-day volume whose weighted price for the period ending May 7, 2021.

In relevance with the transaction, Orion will receive 12,785,485 shares of Coeur common stock (approximately 4.9% of issued shares), supported by the series 30-day volume weighted price of $9.17 per share, for the period ended May 7, 2021, be regard as an aggregate consideration of around $117.2 million.

Sales of Coeur’s shares by Orion are subject to certain restrictions. The transactions will close on or about May 11, 2021, subject to closing conditions as per expectations.

“We have long admired the quality of Victoria’s Eagle asset and its recent success in ramping up operations. This compelling opportunity to acquire 17.8% ownership interest in Victoria from Orion is consistent with our stated strategy and capital allocation framework, and complements our existing portfolio of precious metals assets in high-quality jurisdictions in North America,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “We are excited to become a shareholder of Victoria, and believe this transaction represents an attractive investment for our stockholders.”

Simultaneously, Coeur and Orion also entered into an agreement in accordance with law to which Orion has settled, concerned to definite terms and conditions, between other things, to few transfer restrictions on its left over shares in Victoria and to hold up, vote in favour of, or place all common shares it owns in approval of an offer, proposition or transaction, which is supported by the board of directors of Victoria that would result in the ownership by Coeur of 50% of the common shares of Victoria, or all or considerably all of the possessions and properties of Victoria on an integrated basis.

Pursuant to applicable securities laws an early warning report will be filed by Coeur. As suggested in the following report, in the future, Coeur may take over or dispose of common shares and other assets of Victoria, either in private transactions or in an open market, varying on a number of factors.

Coeur may engage in a conversation with Victoria, and, if and when suitable, its representatives, considering the Company’s investment and possible alternative strategies. While no present plans exist in this reference, Coeur may develop plans and/or make proposals with regard to potential transactions strategies involving Victoria’s shares or assets.

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