representative work

TMAC to be Acquired by SD Gold for US$149 Million

05/08/2020

On May 8, 2020, TMAC Resources Inc. entered into a definitive agreement with Shandong Gold Mining Co. Ltd. (“SD Gold”) through its wholly-owned, overseas subsidiary Shandong Gold Mining (HongKong) Co., Limited, pursuant to which SD GOLD has agreed to acquire all of the outstanding shares of TMAC at a price of $1.75 per share in cash. The total equity value pursuant to the transaction is approximately US$149 million on a fully diluted basis.

The transaction will be subject to the approval of at least 66-⅔% of the votes cast by shareholders at a special meeting of TMAC shareholders expected to be held in June 2020.

Cassels is acting for TMAC with a deal team that includes Jay Goldman, Lindsay Clements, Paul Stein, Jeffrey Roy, Jackson Phillips and David Singh (Securities, M&A and Mining), Jason Arbuck and Jenna Clark (Banking & Specialty Finance), Chris Hersh (Competition), Kristin Taylor (Employment & Labour), and Lara Jackson (Litigation).