Rubicon secures US$50 million loan facility with CPPIB Credit Investments

Torys acted as counsel to Canada Pension Plan Investment Board with a team that included Adam Delean, Mike Amm, Simon Williams, Jacob Weinstock and Sean Adair.

On May 14, 2015, Rubicon Minerals Corporation (Rubicon) entered into a financing agreement with CPPIB Credit Investments Inc. (CPPIB), a wholly-owned subsidiary of Canada Pension Plan Investment Board, for a US$50 million secured loan facility with a five-year term.

The proceeds from the loan facility will be used for the development of the Phoenix Gold Project and to provide adequate working capital and flexibility to optimize the project during the ramp-up period to potential commercial production. In connection with the loan, Rubicon issued warrants to CPPIB, entitling CPPIB to acquire common shares of Rubicon equating to approximately 2.5% of Rubicon's existing issued and outstanding shares for a period of five years from the date of closing.

Rubicon is an emerging gold producer focused on the completion and start-up of its Phoenix Gold Project in Red Lake, Ontario.

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