On March 5, 2020, Zijin Mining Group Co., Ltd. and Continental Gold Inc. completed a plan of arrangement under the Business Corporations Act (Ontario) pursuant to which Zijin acquired all of the issued and outstanding common shares of Continental at a price of $5.50 per share. The total equity value pursuant to the transaction is approximately $1.4 billion on a fully diluted basis.
Cassels acted for Continental with a deal team that included Jay Goldman, Lindsay Clements, Paul Stein, Jeff Roy, Ali Naushahi, Stefanie Sebanc, Miriam El Ofir and Jasmine Qin (Securities, M&A and Mining), Jennifer Wasylyk and Jenna Clark (Banking & Specialty Finance), Chris Norton (Tax), and Chris Hersh (Competition & Foreign Investment).