De Beers Canada sells participating interest in diamond joint venture for $180 million

On September 28, 2006 Shore Gold Inc. closed the previously announced purchase from De Beers Canada Inc of its interest in the Fort a la Corne Joint Venture. Kensington Resources Ltd., Shore's wholly owned subsidiary, acquired De Beers' 42.245% participating interest in the joint venture for a purchase price of $180 million. Fasken Martineau acted as legal counsel to De Beers Canada, with a team comprised of Robert Shirriff, John Sabetti, Bozidar Crnatovic, Krisztian Toth, Scott Mitchell and Wojtek Baraniak (corporate), William Bies (tax) and Tony Baldanza (competition).