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Undur Tolgoi Minerals announces reverse takeover of Wedge Energy International

Fasken
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Overview

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Undur Tolgoi Minerals Inc.

On November 15, 2011, Wedge Energy International Inc. (Wedge) (formerly CNSX: WEG) announced that it had completed the arrangement with Undur Tolgoi Minerals Inc. (UTMI), a privately held mineral exploration company, resulting in the reverse takeover of Wedge by UTMI. Pursuant to the arrangement, Wedge shares were consolidated on a 20:1 basis, Wedge acquired all of the issued and outstanding shares of UTMI in consideration for which UTMI shareholders received Wedge shares on a 1:1 basis, and Wedge and UTMI were amalgamated to form a new entity, which assumed the name "Undur Tolgoi Minerals Inc." Concurrently with the Arrangement, UTMI completed a private placement financing, in two tranches which occurred November 15, 2011 and December 7, 2011, for aggregate gross proceeds of $7 million. The shares of UTMI (CNSX: UTM) began trading on December 9, 2011. UTMI was advised in the transaction by Fasken Martineau with a team that included François Brais, Frédéric Boucher, Catherine Isabelle, Élise Renaud, Caitlin Rose, Monica Dingle, Lata Casciano (Corporate/Securities), Tracey Cohen (Litigation), Chuck Higgins and Daye Kaba (Mining) and Thomas Copeland (Tax).

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