On October 9, 2020, Auryn Resources Inc. acquired all of the issued and outstanding shares of Eastmain Resources Inc. and formed Fury Gold Mines Limited. Prior to the merger, Auryn spun out its Peruvian assets into two new companies and distributed the shares to Auryn shareholders. Shares of Fury Gold commenced trading on the NYSE American and on the Toronto Stock Exchange under the ticker “FURY”.
Fury Gold also received the net proceeds of the previously completed $23 million subscription receipt financing, which was conditional on the completion of the Fury Gold transaction.
Cassels acted for Eastmain with a deal team that included Jay Goldman, Lindsay Clements, Jasmine Qin and Miriam El Ofir (Securities, M&A and Mining) and Chris Norton and Tera Li Parizeau (Tax).