12:04 PM EST - Kinross Gold Corp. : said that it has signed a subscription agreement with Harry Winston Diamond Corp. further to which Kinross will make a net investment of $150 million U.S. in exchange for an indirect interest in the Diavik Diamond Mine in Canada's Northwest Territories and a 19.9-per-cent shareholding in Harry Winston. The agreement consists of two components. The first component is a subscription for a minority 22.5-per-cent interest in the partnership that holds Harry Winston's 40-per-cent interest in the Diavik diamond mine joint venture operated by Rio Tinto. The net effective subscription price is $104.4 million U.S. The second component is an equity private placement of 15.2 million common shares of Harry Winston at a price of $3.00 U.S. per share, for a total investment of $45.6 million U.S., giving Kinross a 19.9-per-cent interest in Harry Winston. Kinross Gold Corp.
shares T.K are trading down $0.68 at $22.46.
