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Canadian gold mining companies seal merger with Clayton Utz’s help

Clayton Utz has helped gold mining company Kirkland Lake Gold Ltd. complete a merger of equals agreement with gold producer Agnico Eagle Mines Limited.

The transaction completed on 8 February and takes effect by way of a plan of arrangement under the applicable Canadian laws, according to Clayton Utz. Following completion of the merger, the combined company continues as Agnico Eagle and remains listed on the TSX and NYSE, while Kirkland Lake de-listed its shares from the ASX, TSX and NYSE.

Agnico Eagle also issued approximately 209,274,263 common shares to former Kirkland Lake stockholders as consideration for their shares.

Perth corporate partners Liz Humphry and Brett Cohen led Clayton Utz’s team on the transaction, with support from special counsel Armin Fazely and lawyers Tyson Ginn and Luke Crofts. They assisted Kirkland Lake on the Australian law and ASX-related aspects of the deal and its subsequent de-listing from the ASX.

“Kirkland has been a longstanding client of our firm and it has been our pleasure to assist with their journey in Australia – from the acquisition of Fosterville Mine in Victoria, to their ASX listing and now a transformational consolidation transaction,” Humphry said. “We have thoroughly enjoyed working with the Kirkland team, as well as our colleagues from Cassels in Canada.”

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