Leagold completes acquisition of Brio Gold

May 24, 2018

Torys represented National Bank Financial as a financial advisor to Brio Gold with a team that included John Emanoilidis and Kevin Armitage.

On February 16, 2018, Brio Gold Inc. ("Brio Gold") announced that it entered into a definitive agreement pursuant to which Leagold Mining Corporation ("Leagold") will acquire all of the issued and outstanding shares of Brio Gold, based on an increased value for Brio Gold shareholders, with an implied equity value of C$314 million.

The transaction was carried out by way of court-approved plan of arrangement under the Business Corporations Act (Ontario) and required approval by at least 66 2/3% of the votes cast at a special meeting of Brio Gold shareholders to consider the transaction that took place in April 2018.

Under the terms of the arrangement agreement, shareholders of Brio Gold received 0.922 of a Leagold common share and 0.4 of a Leagold share purchase warrant for each common share of Brio Gold held. Each full warrant will be exercisable to acquire one common share of Leagold at a price of C$3.70 for a period of two years from closing of the transaction.

Completion of the transaction was announced on May 24, 2018.

Brio Gold was an established Canadian mining company with significant gold producing, development and exploration stage properties in Brazil.

Leagold is building a new mid-tier gold producer with a focus on opportunities in Latin America.

Further information can be found on Marketwired’s website.