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Leagold Mining Corporation acquires Goldcorp’s Los Filos Gold Mine for US$350 million

Fasken
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Leagold Mining Corporation

On April 7, 2017 Leagold Mining Corporation (“Leagold”) completed the acquisition of the Los Filos Gold Mine in Guerrero State, Mexico for US $350 million (all figures in US dollars) from Goldcorp Inc. (“Goldcorp”).

The purchase price consisted of US$250 million in cash, US$29 million by delivery of a promissory note, and US$71 million in common shares of Leagold. This is the first stepping stone in Leagold’s aim at building a new mid-tier gold producer with a focus on opportunities in Latin America, led by an experienced management team that includes Neil Woodyer, CEO.

The transaction involved debt and equity financings to raise US$333 million for the acquisition, including a private placement and a public offering in Canada of subscription receipts.

Fasken Martineau advised Leagold on all aspects of the transaction with a team that was led by Georald Ingborg and included members from several of our offices. From Vancouver: Sam Li and Barinder Sidhu (Securities), Martin Ferreira Pinho, Amy Carruthers and Josh Lewis (Commercial), Michael Coburn (Tax); from Toronto: Thomas Meagher and Jay Choi (Banking) and Brian Graves (Commercial); and from London, UK: Thomas Wexler (Banking).

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