NEW YORK, July 18, 2018 (GLOBE NEWSWIRE) — Paulson & Co. Inc. (“Paulson”), one of the largest institutional investors in Detour Gold Corporation (TSX:DGC) (“Detour Gold” or the “Company”) provided the following in response to this afternoon’s false and misleading communication from Detour Gold, where it made allegations that are proven incorrect by the facts:
“We were in contact with the OSC prior to the issuance of our press release from earlier today and provided it with the unsolicited written communication, disclosing the non-public information, from Michael Kenyon. We also provided the request we made to Detour’s board to disclose this information to all shareholders. The actions of the Company’s board and management are without precedent, as they continue to waste corporate assets and act in a manner that is not in the best interest of the Company or shareholder interests. Paulson will continue to assert and defend shareholder rights and will support any investigation by the OSC.
In addition, Paulson wants to make it clear that, given the sub-par performance of the Company, we initially asked that the Company explore strategic alternatives. This would be in parallel with the execution of the life-of-mine plan and would include a sale process to see if fair value can be received for shareholders expeditiously.”
A copy of the correspondence received from Detour Gold, including the unsolicited written communication to Paulson selectively disclosing non-public information that the Company had been approached by a major gold mining company interested in potentially acquiring it, will be available on SEDAR and can be obtained from MacKenzie Partners at email@example.com.
About Paulson & Co. Inc.
Paulson, founded in 1994, is an investment management firm specializing in event-driven arbitrage strategies with offices located in New York, London and Dublin.
Dan Burch & Jeanne Carr
MacKenzie Partners, Inc.
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