Transaction|January 24, 2012
US Gold and Minera Andes business combination completed
Torys acted as counsel to the Special Committee of Minera Andes Inc. with a team that included Sharon Geraghty, Mike Amm, Jim MIller, Adam Banack and Paulina Taneva.
On January 24, 2012, McEwen Mining Inc. (McEwen Mining) announced that the successful completion of its previously announced business combination, pursuant to which US Gold Corporation acquired Minera Andes Inc. and was renamed McEwen Mining. The business combination was carried out by way of a plan of arrangement under the Business Corporations Act (Alberta), which was approved by the shareholders of both US Gold and Minera Andes on January 19, 2012 and the Court of Queen's Bench of Alberta on January 20, 2012.
Under the terms of the arrangement, holders of Minera Andes shares received 0.45 of an exchangeable share of McEwen Mining - Minera Andes Acquisition Corp. for each one (1) Minera Andes share held. These exchangeable shares of McEwen Mining - Minera Andes Acquisition Corp. are convertible on a one-for-one basis at any time into shares of McEwen Mining. McEwen Mining will have an aggregate of 267,084,203 shares of common stock outstanding and issuable upon the exchange of exchangeable shares.
US Gold Corporation explores for gold and silver in the Americas and is advancing its El Gallo Project in Mexico and its Gold Bar Project in Nevada towards production.
Minera Andes Inc. is a Canada-based company engaged in the exploration and development of mineral properties, located primarily in the Republic of Argentina, with a focus on gold, silver and copper mineralized targets.
Further information can be found on McEwen Mining's website.
Under the terms of the arrangement, holders of Minera Andes shares received 0.45 of an exchangeable share of McEwen Mining - Minera Andes Acquisition Corp. for each one (1) Minera Andes share held. These exchangeable shares of McEwen Mining - Minera Andes Acquisition Corp. are convertible on a one-for-one basis at any time into shares of McEwen Mining. McEwen Mining will have an aggregate of 267,084,203 shares of common stock outstanding and issuable upon the exchange of exchangeable shares.
US Gold Corporation explores for gold and silver in the Americas and is advancing its El Gallo Project in Mexico and its Gold Bar Project in Nevada towards production.
Minera Andes Inc. is a Canada-based company engaged in the exploration and development of mineral properties, located primarily in the Republic of Argentina, with a focus on gold, silver and copper mineralized targets.
Further information can be found on McEwen Mining's website.