On June 28, 2013, Highvista Gold Inc. ("Highvista") closed a non-brokered private placement financing for gross proceeds of $963,000 (the "Private Placement") through the issuance of 4,815,000 units (the "Units") of the Company to AuRico Gold Inc. ("AuRico Gold") at a price of $0.20 per Unit. Each Unit consists of one common share of Highvista and one-half of one common share purchase warrant (each a "Warrant"), with each whole Warrant entitling AuRico Gold to purchase one common share at an exercise price of $0.25 per share until June 28, 2015. In addition to the Private Placement, Highvista and AuRico Gold also entered into an option and joint venture agreement (the "Option and JV Agreement") over the El Chanate Extension comprising approximately 30 percent of Highvista's Canasta Dorada gold project. The Option and JV Agreement grants AuRico Gold the option to earn a 51% undivided interest in the El Chanate Extension currently owned by Highvista's Mexican subsidiary by incurring an aggregate of $3 million in exploration expenditures on the subject property over the next three years. AuRico Gold can earn a further 19% interest in the joint venture (bringing its aggregate interest to 70%) by funding the preparation of a feasibility study on the subject property. AuRico Gold was represented by a team of Fasken Martineau lawyers that included Michael Bourassa and Francesco Tallarico (corporate/securities).