Detour Gold and Paulson Announce Dismissal of Court Action
TORONTO, Feb. 11, 2019 /CNW/ - Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") and Paulson & Co. Inc. ("Paulson") announce that both parties have agreed to a dismissal of the Court Action that Detour Gold issued on July 24, 2018. As part of the agreement, both parties have agreed to provide releases of certain claims in respect of the proxy contest, complaints made by the Company to Staff of the Ontario Securities Commission, the Court Action and Paulson's claim for reimbursement of costs.
"We are happy to settle the last remaining item from the proxy contest, which allows Detour Gold's Board to focus on creating value for shareholders," said John Paulson.
"With this settlement, the Board has put the proxy fight behind us and is laser focused on improving the performance and value of this long-life, valuable asset", said James Gowans, Chairman of Detour Gold.
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