Transaction|October 26, 2011
Northgate Minerals completes sale to AuRico Gold
Torys acted as counsel to Northgate Minerals in Canada and the United States with a team that included Kevin Morris, Alison Harnick, Peter Jewett, John Emanoilidis, Jim MIller, Tom Miller, Gabi Mandowsky, Robbie Leibel, Miranda Callaghan, Kevin Wall (Toronto corporate), Andrew Gray (litigation), Christopher Roehrig and Daniel Raglan (U.S. corporate), Andrew Wong, Corrado Cardarelli, Richard Johnson, Peter Keenan and Ari Feder (tax), Omar Wakil and Damian Liddle (regulatory), Dennis Mahony (environmental), Mitch Frazer and Reesha Hosein (employment) and John Terry (First Nations).
On October 26, 2011, Northgate Minerals Corporation (Northgate) (TSX, NYSE-Amex:NGX) and AuRico Gold Inc. (AuRico) (TSX, NYSE:AUQ) completed their definitive acquisition agreement (the Agreement) to create a new leading intermediate gold producer. The new company has five operating gold mines, a sixth mine targeting production in 2012 and three gold development projects in Mexico, Canada, and Australia.
Under the terms of the Agreement, AuRico acquired all of the issued and outstanding common shares of Northgate on the basis of 0.365 AuRico common shares per Northgate common share.
The combined company is completely unhedged and offers full exposure to record gold and silver prices and an exceptional growth profile from approximately 475,0001 gold equivalent (Aue) ounces2 this year to 730,000+3 Aue ounces in 2013 (growth of approximately 54%).
AuRico Gold, headquartered in Toronto, is a leading intermediate Canadian gold and silver producer with a diversified portfolio of high quality mines and projects in Mexico.
Further information can be found on Canada Newswire.
Under the terms of the Agreement, AuRico acquired all of the issued and outstanding common shares of Northgate on the basis of 0.365 AuRico common shares per Northgate common share.
The combined company is completely unhedged and offers full exposure to record gold and silver prices and an exceptional growth profile from approximately 475,0001 gold equivalent (Aue) ounces2 this year to 730,000+3 Aue ounces in 2013 (growth of approximately 54%).
AuRico Gold, headquartered in Toronto, is a leading intermediate Canadian gold and silver producer with a diversified portfolio of high quality mines and projects in Mexico.
Further information can be found on Canada Newswire.