JERSEY, CHANNEL ISLANDS--(Marketwire - November 20, 2009) - Randgold Resources Limited (
NASDAQ:
GOLD) ("Randgold") today announced that it completed, pursuant to an
acquisition agreement dated October 15, 2009 between Randgold and Volta
Resources Inc ("Volta"), its previously announced sale of its interest in
the Kiaka license, camp assets and licence data to Volta in exchange for
cash consideration of C$4,000,000 and an aggregate of 20,000,000 common
shares of Volta ("Common Shares"). As a result of this transaction, based
on publicly available information, Randgold will hold 20,000,000 Common
Shares, representing approximately 27.3% of the issued and outstanding
Common Shares, acquired pursuant to an asset acquisition exemption under
applicable securities laws. All of the shares have been placed in escrow
pending proof of recordation of the licence comprising the Kiaka Gold
Project into Volta's name. The cash consideration will be paid in equal
instalments on the dates that are 6, 12, 18 and 24 months following the
closing date.
The Common Shares were acquired by Randgold for investment purposes.
Randgold may from time to time increase or decrease its holdings of Common
Shares or other securities of Volta.
For further information, or to obtain a copy of Randgold's early warning
report filed under applicable securities laws, please contact:
Randgold Resources Limited
La Motte Chambers
La Motte Street
St Helier
Jersey JE1 1BJ
Channel Islands
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
("Randgold")
Website:
www.randgoldresources.com
Contact Information: RANDGOLD RESOURCES ENQUIRIES
Dr Mark Bristow
Chief Executive
Tel: +44 788 071 1386
Tel: +44 779 775 2288
Graham Shuttleworth
Financial Director
Tel: +44 779 614 4438
Tel: +44 1534 735 333
Kathy du Plessis
Investor & Media Relations
Tel: +44 20 7557 7738
Email :