Kinross recommends shareholders reject TRC Capital Investment’s below-market “mini-tender” offer for common shares

This section is Partnership Content suppliedThe content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Article contentTORONTO, April 10, 2026 (GLOBE NEWSWIRE) — Kinross Gold Corporation (TSX: K; NYSE: KGC) (the “Company”) received notification that TRC Capital Investment Corporation (“TRC”) has made an unsolicited “mini-tender” offer on April 7, 2026, to purchase up to 2.5 million common shares of Kinross, or approximately 0.21% of Kinross’ shares outstanding, at a price of C$41.75 per share. Kinross strongly recommends that its shareholders reject this offer and cautions its shareholders that the offer made is approximately 4.4% below the closing price of C$43.68 per Kinross share on the Toronto Stock Exchange on April 6, 2026, the day before the offer.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentArticle contentKinross does not endorse TRC’s unsolicited mini-tender offer, and is not affiliated or associated in any way with TRC Capital Investment.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentTRC has made several similar unsolicited mini-tender offers for shares of other public companies. Mini-tender offers are designed to result in a holding of less than 5% of a company’s outstanding shares, thereby avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. Both the Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) recommend that investors exercise caution with mini-tender offers and have expressed serious concerns about them, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities.Article contentThe SEC has issued “Tips for Investors” regarding mini-tender offers, noting that some bidders, in making the offers at below-market prices, are “hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price.” The SEC’s advisory can be found on its website at: http://www.sec.gov/investor/pubs/minitend.htm.Article contentArticle contentInformation on the CSA’s long-standing guidance on mini-tenders can be found on the Ontario Securities Commission website at: https://www.osc.ca/en/securities-law/instruments-rules-policies/6/61-301/csa-staff-notice-61-301-staff-guidance-practice-mini-tenders.Article contentBrokers, dealers and other market participants are encouraged to exercise caution and review the letter regarding broker-dealer mini-tender offer dissemination and disclosures on the SEC website at: www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.Article contentKinross requests that a copy of this news release be included with any distribution of materials relating to TRC’s mini-tender offer for Kinross shares.Article contentAbout Kinross Gold Corporation Article contentKinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).Article contentMedia Contact Samantha SheffieldDirector, Corporate Communicationsphone: 416-365-3034Samantha.Sheffield@Kinross.comArticle contentInvestor Relations ContactDavid ShaverExecutive Vice-President, Investor Relations & Communicationsphone: 416-365-2854InvestorRelations@Kinross.comArticle contentSource: Kinross Gold Corporation Article contentArticle contentArticle contentArticle contentArticle contentArticle contentTrending BYD to open 20 car dealerships in Canada this year Autos Posthaste: More Canadians desperate for tax refund to plug holes in their finances News Bank of Canada rate hike bets look 'unrealistic' given 'sclerotic' state of jobs market, say economists Economy This creative money transfer strategy among family members could raise red flags with CRA Personal Finance Toronto police charge man in 2024 shooting at home of GFL CEO Dovigi News Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. BYD to open 20 car dealerships in Canada this year Autos Posthaste: More Canadians desperate for tax refund to plug holes in their finances News Bank of Canada rate hike bets look 'unrealistic' given 'sclerotic' state of jobs market, say economists Economy This creative money transfer strategy among family members could raise red flags with CRA Personal Finance Toronto police charge man in 2024 shooting at home of GFL CEO Dovigi News