SEMAFO and Savary Announce Non-Binding Letter of Intent for Acquisition of Savary by SEMAFO
Creation of 1,250 km² District-Scale Land Package on Houndé Greenstone BeltMontreal, Quebec and Toronto, Ontario, February 11, 2019 – SEMAFO Inc. (TSX, OMX: SMF) (“SEMAFO”) and Savary Gold Corp. (TSX-V: SCA) (“Savary”) are pleased to announce that they have entered into a non-binding letter of intent (the “LOI”) contemplating the acquisition by SEMAFO of all of the outstanding common shares of Savary (the “Savary Shares”) not already owned by SEMAFO (the “Proposed Transaction”). Under the terms of the LOI, all of the issued and outstanding Savary Shares will be exchanged on the basis of