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OceanaGold completes redomiciling transaction and US$90 million IPO

Fasken
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OceanaGold Corporation

On July 5, 2007, OceanaGold Corporation ("Oceana") announced the completion of its initial public offering of 25.7 million common shares for gross proceeds of approximately $90 million. Oceana's common shares trade on the Toronto Stock Exchange ("TSX") under the symbol "OGC". In connection with the initial public offering, Oceana completed a redomiciling transaction whereby Oceana became the holding company for Oceana Gold Limited, an Australian gold mining and exploration company, and its subsidiaries. The redomiciling transaction was effected pursuant to court-approved schemes of arrangement under Australian law. Pursuant to the schemes of arrangement, which became effective prior to the closing of the initial public offering, the securities of Oceana Gold Limited were delisted from the Australian Stock Exchange ("ASX") and ceased to the quoted on the New Zealand Stock Exchange ("NZX"). Security holders of Oceana Gold Limited exchanged their securities for securities in Oceana. The common shares of Oceana issued pursuant to the court-approved scheme were listed and are now trading on the TSX, ASX and NZX. The initial public offering was sold through an underwriting syndicate led by BMO Capital Markets and including Austock Corporate Finance Limited, Haywood Securities Inc. and Westwind Partners Inc. Oceana granted the underwriting syndicate an over-allotment option equal to up to 15% of the common shares sold pursuant to the offering. The net proceeds of the initial public offering will be used by Oceana primarily to fund the development, construction and start-up of the Didipio Gold-Copper project in northern Luzon, Philippines. Oceana was represented by its in-house counsel Jane Nosworthy, and was advised in Canada by a team from Fasken Martineau comprised of John Turner, John Sabetti, Krisztian Toth, Daye Kaba and Wojtek Baraniak.

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