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Mining M&A and Capital Markets

Mining M&A and Capital Markets
Mining M&A and Capital Markets
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Expertise / Sectors / Mining / Mining M&A and Capital Markets

Blakes has one of the largest and most active mergers and acquisitions practices in Canada, having been involved in more than 1,400 global public and private M&A transactions, with an aggregate dollar value in excess of US$1.5-trillion, over a 10-year period. According to Bloomberg and Refinitiv, Blakes is the No. 1 Canadian law firm in global M&A by deal count and value for 2010–2019.
 
We are frequently retained by major domestic and international mining companies and financial institutions to provide strategic counsel in M&A transactions. Transactions range from privately negotiated transfers of shares or assets to the largest public company mergers and acquisitions completed by way of take-over bids, amalgamations and plans of arrangement. We advise our mining clients on structuring considerations, related-party rules, special committee obligations, take-over defences and contested shareholder meetings.

The Blakes Capital Markets team is also one of the largest and most experienced in Canada. Our lawyers are leaders in capital markets transactions, serving prominent companies, investors and financial institutions in Canada, the United States and worldwide. Canada's leading public companies and investment dealers regularly turn to us to handle their corporate finance transactions and securities regulatory matters, tapping into our national and international presence to access our exceptional cross-border capability in principal markets.
 
We have extensive experience with mining public offerings, including initial public offerings, acquisition finance and innovative fund structures, as well as private placements and other forms of strategic investments. We routinely advise corporations, trusts, strategic and financial investors, and investment banks on all types of securities regulatory matters and have unsurpassed knowledge of securities regulation gained, in part, through our work with Canadian securities regulators.

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Recent Experience

Mergers & Acquisitions

  • Denison Mines Corp. on its US$86.3-million public offering of units

  • ​Triple Flag Precious Metals Corp. on a US$45.7-million acquisition of 34 royalties from IAMGOLD Corporation and certain of its subsidiaries

  • ​​Plateau Energy Metals Inc. on its C$160-million acquisition by American Lithium Corp.

  • ​The Special Committee of the Board of Teranga Gold Corporation on its C$2.4-billion acquisition by Endeavour Mining Corporation​.

  • Equinox Gold Corp. on its C$700-million acquisition of Premier Gold Mines Limited. 

  • Pretium Resources Inc. on the sale of its Snowfield property for cash consideration of US$100-million, a 1.5 per cent net smelter royalty and a US$20-million contingent consideration.

  • New Millenium Iron Corp. on its business combination agreement with Abaxx Technologies.

  • Artemis Gold Inc. on its US$300-million acquisition of the Blackwater gold project in central British Columbia from New Gold Inc.

  • Alio Gold Inc. on its acquisition by Argonaut Gold Inc.

  • The Special Committee of Balmoral Resources Limited on its C$110-million acquisition by Wallbridge Mining Company Limited.

  • Equinox Gold Corp. on its US$578-million all-stock acquisition of Leagold Mining Corporation and concurrent private placement of US$170-million and debt financing of US$500-million.

  • Atlantic Gold Corporation on its C$802-million sale to St Barbara Limited.

  • Agrium Inc. on its US$38-billion merger of equals with Potash Corporation of Saskatchewan Inc. to form Nutrien Ltd.

  • Nevsun Resources Ltd. on its C$1.86-billion sale to Zijin Mining Group Co. Ltd.

  • Nextview New Energy Lion Hong Kong Limited on its C$263-million acquisition of Lithium X Energy Corp.

  • The Washington Companies on its C$1.5-billion acquisition of Dominion Diamond Corporation and various related debt financings.

  • Trek Mining Inc. in connection with its C$400-million business combination with NewCastle Gold Ltd. and Anfield Gold Corp. to create Equinox Gold Corp.

  • Avnel Gold Mining Limited on its C$160-million sale to Endeavour Mining Corporation.

  • Kinross Gold Corporation on the sale of its 25 per cent interest in the Cerro Casale project and 100 per cent interest in the Quebrada Seca project to Goldcorp Inc. for US$300-million in cash, the assumption by Goldcorp of a US$20-million payment obligation and the issuance of a 1.25 per cent Goldcorp royalty relating to such projects.

  • Americas Silver Corporation on its US$58.6-million acquisition of Pershing Gold Corporation.

  • The Independent Committee of the Board of Directors of Dalradian Resources Inc. on the C$537-million acquisition of Dalradian Resources Inc. by Orion Mine Finance.

  • Maverix Metals Inc. on its US$100-million acquisition of 54 royalties from Newmont Mining Corporation for 60 million common shares, 10 million warrants and US$17-million in cash.

  • Equinox Gold Corp. on its US$158-million acquisition of the Mesquite Gold Mine in California from New Gold Inc.

  • Aura Minerals Inc. on its C$25.4-million acquisition of Rio Novo Gold Inc. by way of shareholder-approved merger and on the US$40-million sale of Mineração Vale Verde Ltda, to a purchaser group.

Capital Markets

  • A syndicate of underwriters led by BMO Nesbitt Burns Inc. and Canaccord Genuity Corp. on a C$172.8-million bought deal MJDS offering of common shares of NexGen Energy Ltd. pursuant to a short-form prospectus.

  • ​Canaccord Genuity Corp. on behalf of a syndicate of underwriters on a US$400-million public offering of common shares of Lithium Americas Corp.

  • Artemis Gold Inc. on its C$175-million brokered and non-brokered offering of 64,825,925 subscription receipts at a price of C$2.70 per subscription receipt.

  • Aura Minerals Inc. in connection with its C$68-million equity financing and concurrent C$197-million secondary offering involving the initial public offering of Brazilian Deposit Receipts and concurrent listing on the Brazilian Stock Exchange. 

  • Fortuna Silver Mines Inc. on its US$69-million offering of common shares.

  • Lundin Gold Inc. on public offerings of common shares aggregating C$96.6-million.  

  • A syndicate of agents on the US$300-million offering of the common shares of Wheaton Precious Metals Corp.

  • A syndicate of agents on the US$140-million offering of common shares by Sandstorm Gold Ltd.

  • Bluestone Resources Inc. in connection with its C$92-milllion bought deal public offering.

  • Equinox Gold Corp. in connection with a strategic investment in Equinox by Mubadala Investment Company in the form of a US$130-million secured convertible notes and accompanying governance and investor rights agreement.

  • Ero Copper Corp. on its $127-million initial public offering.

  • Lundin Gold Inc. on its US$400-million equity private placement financing in connection with the Fruta del Norte gold project in Ecuador.

  • BHP Billiton in connection with its strategic equity investments in SolGold Plc and Midland Exploration Inc.

  • A private equity investor in connection with its investment of up to US$300-million in a Canadian iron ore project by way of equity subscription and option on project marketing rights.

  • SoftBank Group Corp. on its C$99-million strategic investment and related rights in Nemaska Lithium Inc.

  • A syndicate of underwriters on the US$156.5-million offering of convertible notes of First Majestic Silver.

  • A syndicate of underwriters on the US$250-million offering of senior secured notes of Taseko Mines Limited.

  • A syndicate of underwriters on the US$800-million cross-border offering of common shares of Silver Wheaton Corp.

  • Pure Gold Mining Inc. on its bought deal private placement and concurrent non-brokered private placement for aggregate gross proceeds of C$20.9-million.

  • A syndicate of underwriters on the C$175-million offering of subscription receipts by Leagold Mining Corporation.

  • Pretium Resources Inc. on its US$100-million private placement of unsecured convertible senior subordinated notes.

  • A syndicate of underwriters on the C$29.9-million bought deal public offering of units of eCobalt Solutions Inc.

  • A syndicate of underwriters on Stornoway Diamond Corporation’s C$132-million public offering of subscription receipts, forming part of its C$946-million comprehensive financing transaction to fund the construction of the Renard diamond project in Quebec.

  • BHP Billiton Finance Limited on its C$750-million offering of Maple bonds.

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