representative work

Sherpa II Holdings Completes Qualifying Transaction


On December 18, 2020, Sherpa II Holdings Corp. completed its qualifying transaction comprised of the acquisition of an 80% undivided interest in eight mineral claims (the “Bakar Claims”) located in northwestern Vancouver Island, British Columbia and a 100% undivided interest in all technical data relating to the Bakar Claims.

In connection with the transaction, Sherpa entered into an unincorporated joint venture with the vendor of the Bakar Claims with respect to their respective joint ownership of the Bakar Claims and Sherpa assumed a royalty equal to 2% of the net smelter returns in respect of the Bakar Claims.

Concurrent with the transaction, Sherpa completed a private placement of 1,250,000 common shares at a price of $0.08 per share and 2,000,000 flow-through shares at a price of $0.10 per flow-through share, for aggregate gross proceeds of $300,000.

Cassels acted for Sherpa with a deal team that included Jennifer Traub, Cathy Mercer and Aimee O’Donnell (Securities and Mining) and Chris Norton (Tax).

RELATED EXPERTISE: Securities | Mining | Taxation