Desert Lion Energy announces completion of plan of arrangement with Lepidico

On July 11, 2019, Desert Lion Energy Inc. announced the completion of the previously announced plan of arrangement, whereby Lepidico Ltd acquired all of the outstanding common shares of Desert Lion for consideration of 5.4 Lepidico ordinary shares for every 1 Desert Lion common share. This created a vertically integrated lithium development corporation, merging Desert Lion Energy’s mineral resources and exploration with Lepidico Limited’s lithium processing technologies. The arrangement, which was announced on May 7, 2019, was approved by the Company’s shareholders at an annual general and special meeting held on June 27, 2019, and by the Ontario Superior Court of Justice (Commercial List) on July 4, 2019. Fasken advised Desert Lion Energy Inc. in the plan of arrangement with a team comprised of Gesta Abols and Nancy Eastman (M&A) and Brad Moore.