• US$80 million strategic investment in Rusoro by PHM-led syndicate (PHM, BlackRock, GLG, Lansdowne, Endeavour)
• 2 year senior secured exchangeable loan with a 10 per cent coupon, exchangeable into Rusoro shares at C$1.25, secured on Rusoro's principal subsidiaries
• PHM has a call option on the shares underlying the other syndicate members' portion of the loan at C$2.20
• Syndicate members have the right to participate pro rata in any future equity or equity linked capital raising
• Rusoro, a TSX Venture Exchange listed gold producer with 12.8 million ounces of gold resources, is led by a majority Russian management team including Andre Agapov as CEO, and was formed by the Agapov family
• Gold Fields of South Africa is the largest shareholder in Rusoro Peter Hambro Mining Plc ('PHM'), the second largest Russian gold mining company, announces a strategic investment in Rusoro Mining Ltd ('Rusoro'), a TSX Venture Exchange listed gold producer and exploration company in Venezuela, and its affiliates (collectively the 'Rusoro Group').
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