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investor-q-a

Investor Q/A

 Important tax information for Monarch Gold Corporation Shareholders

On January 21, 2021, the shares of Monarch Gold Corporation (“Monarch”) were exchanged for C$0.192 in cash, 0.0376 shares of Yamana Gold Inc. (“Yamana”) and 0.2 shares of Corporation Minière Monarch/Monarch Mining Corporation pursuant to the Plan of Arrangement.  This exchange results in a disposition of Monarch shares held by each shareholder for Canadian tax purposes.  Accordingly, a Monarch shareholder may realize a gain (or loss) and be subject to tax. It is possible for a Monarch shareholder subject to Canadian income tax to defer some or all of the gain and tax resulting from the disposition by making joint tax election(s) with Yamana under section 85 of the Income Tax Act (Canada) and any applicable similar provincial legislation. Such tax election(s) must be then filled with the Canada Revenue Agency and any applicable provincial taxation authorities in the prescribed form and within the prescribed time. The joint tax election(s) are optional. A Monarch shareholder that is subject to Canadian income tax that does not make the joint tax election(s) with Yamana will not obtain a tax-deferred rollover on any gain realized on the disposition of their Monarch shares and may be subject to Canadian income tax.

The following Monarch shareholders should NOT file a tax election:
Monarch shareholders that are non-residents of Canada that are not required to file a tax return. Uncertain taxpayers should contact their accountants or tax representatives.
Monarch shareholders that held all of their Monarch shares in an RRSP, RRIF, RRP, TFSA,  or other Canadian tax-exempt plan.
Monarch shareholders that realizes a loss on the disposition of their Monarch shares.

Any Monarch shareholder subject to Canadian income tax that would like to make a tax election must provide their name, mailing address and telephone number via voicemail on the Monarch technical assistance hotline at 1-855-527-1047 or via email at ca_yamanagold@pwc.com. Yamana’s representatives will contact all Monarch shareholders with instructions on how to make the tax election. 

It is anticipated a special purpose web-site will be established to facilitate the tax election process. Once this website is established, shareholders that have contacted Yamana’s representatives via voicemail or email will be notified and directed to the web-site. Monarch shareholders that have responded to the letter of transmittal requesting a tax information package will also be notified. 
The foregoing is subject to the more detailed information set out in the November 30, 2020 management information circular of Monarch, a copy of which can be found on www.sedar.com under Monarch’s profile.

Does Yamana participate in the (DRS) Direct Registration Program?

Yes, if you are a beneficial holder please contact your broker directly or if you are a registered holder please contact the Transfer Agent, AST Trust Company (Canada):
email: inquiries@astfinancial.com
call toll-free: 1-800-387-0825
outside Canada & US: +1-416-682-3860

The Company is now providing shareholders with the option to receive an electronic payment of dividends through its Transfer Agent, AST Trust Company. Information and instructions on how to participate can be obtained through the Transfer Agent, AST Trust Company.

Does Yamana have a Dividend Reinvestment Plan?

The Company has adopted a Dividend Reinvestment Plan (“DRIP”) commencing with the first quarter 2015 dividend.

Participation in the DRIP is optional. Participants in the DRIP may obtain additional common shares of the Company by automatically reinvesting all or any portion of the cash dividends paid on common shares held by the DRIP participant without paying any brokerage commissions, administrative costs or other service charges. The Company may, from time to time, in its discretion, direct that such common shares be purchased in the open market on the Toronto Stock Exchange or the New York Stock Exchange at the prevailing market price, any of which would be publicly announced, rather than issuing such common shares from treasury.

The enrollment form is available for downloading below and under Yamana’s profile on AST’s website at www.astfinancial.com

DRIP Enrollment Form Download

Yamana Dividend Reinvestment Plan

Disclaimer

You are now leaving the Yamana Gold Inc. website to go to an independent third party website. Yamana has no control over information at third party sites hyperlinked to this one. These links are being provided for the convenience of the users of this website and Yamana does not endorse and is not responsible or liable for the content, nature or reliability of any linked website or any link contained in a linked website. Yamana takes no responsibility for monitoring, updating, supplementing or correcting any information on any linked website and makes no representation or warranties regarding such information.

NON-GAAP INFORMATION

Yamana discloses certain non-GAAP measures including Cash costs per ounce of gold, Cash costs per ounce of silver, Co-product cash costs per ounce of gold, Co-product cash costs per ounce of silver, Co-product cash costs per pound of copper, All-in sustaining costs per ounce of gold, All-in sustaining costs per ounce of silver, All-in sustaining co-product costs per ounce of gold, and All-in sustaining co-product costs per ounce of silver to supplement its Consolidated Financial Statements, which are presented in accordance with IFRS. The term IFRS and generally accepted accounting principles (“GAAP”) are used interchangeably. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

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