Argonaut Gold and Prodigy Gold Complete Business Combination

Argonaut Gold Inc. (“Argonaut”), a Canadian gold company engaged in exploration, mine development and production activities in Mexico, and Prodigy Gold Inc. (“Prodigy”) completed their business combination by way of plan of arrangement (the “Arrangement”) in a transaction valued at approximately $341 million. Pursuant to the Arrangement, Argonaut has acquired all of the issued and outstanding common shares of Prodigy (“Prodigy Shares”), and former Prodigy shareholders are entitled to receive 0.1042 of a common share of Argonaut (“Argonaut Shares”) and $0.0001 in cash per Prodigy Share. Outstanding options to acquire Prodigy Shares have been converted into options to acquire Argonaut Shares, adjusted in accordance with the same ratio.

Argonaut was represented by Fraser Milner Casgrain LLP with a team including Sander Grieve, Elianeth Alicea, Alan Hutchison, Sam Khajeei, Alan Monk, Kelli Patel, John Sabine, Ralph Shay, Tim Banks, Lisa Telebar and Denise Williams (M&A and securities); Andrea Raso, Saba Zia (employment and labour); David Hunter (environmental and Aboriginal); Blake Moran (financial services); Kathryn McCulloch, Lionel Tupman (litigation); Brian Abraham (mining) Mark Dunsmuir (pensions and benefits); Sonja Homenuck (real estate) and Zahra Nurmohamed and Matthew Peters (tax). US Counsel to Argonaut was Greenberg Traurig LLP with a team consisting of Brian Blaney (US securities) and Bob Simon and Renée O'Rourke (US tax).

Prodigy was represented by DuMoulin Black LLP with a team comprising Douglas Seppala, Jason Sutherland, Corey Dean, Dan McElroy and Justin Kates.