On December 22, 2005, Semafo Inc. reported that the sale by Managem S.A. of 40 million common shares to institutional investors had been completed. Fasken Martineau advised the European financial advisors to Semafo in this sale with a team comprised of Chuck Higgins and Bruce Blain (securities); Mark Sills and Pierre-Yves Châtillon (due diligence); and Al Gourley and Kevin Clinton (UK regulatory issues).