On August 4, 2020, Magna Terra announced the closing a $4.987 million non-brokered private placement and the completion of the acquisition of advanced exploration assets in Atlantic Canada from Anaconda Mining.
In connection with the acquisition, Magna Terra issued to Anaconda Mining a total of 12,493,482 common shares of the Company on a post Consolidation bassis. The acquisition constitutes a reverse take-over transaction under the rules and policies of the TSX Venture Exchange.
A Fasken team including Frank Mariage, Jean-Philippe Côté and Youssef Fichtali advised Magna terra in connection with this transaction.