On April 28, 2022, Lundin Mining Corporation acquired all of the issued and outstanding common shares of Josemaria Resources Inc. (“Josemaria Shares”) for an implied equity value of approximately $625 million pursuant to a plan of arrangement under the Canada Business Corporations Act. Pursuant to the arrangement, Josemaria Resources shareholders received, at their election, (i) 0.1487 of a common share of Lundin Mining per Josemaria Share held, plus $0.11 for each whole Lundin Mining share issued to such shareholder; or (ii) $1.60 in cash for each Josemaria Share held; or (iii) any combination thereof, subject to pro-ration based on a maximum cash consideration of approximately $184.5 million and a maximum of approximately 40 million Lundin Mining shares.
Lundin Mining Corporation is represented by internal counsel by Andrew Hastings (Senior Vice President and General Counsel).
Cassels Brock & Blackwell LLP acted for Lundin Mining with a team that included Mark Bennett (Securities, M&A and Mining), Alex Iliopoulos (Securities, M&A and Mining), Jasmine Qin (Securities, M&A and Mining), Reza Sarsangi (Securities, M&A and Mining), Doug Richardson (Tax), Jocelyn Arnason (Tax), Ashley Jung (Tax), Jennifer Wasylyk (Banking & Specialty Finance), Lara Jackson (Litigation), Jessica Lewis (Litigation), Laurie Jessome (Employment & Labour), Davit Akman (Competition & Foreign Investment), and Eni Silva (Law Clerk).
Fasken Martineau DuMoulin LLP acted for the special committee of the Lundin Mining Board of Directors with a team that included Brad Freelan and Payton Holliss.
Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as US counsel for Lundin with a deal team that included Aaron Abramson and Katharine Wilson.
Blake, Cassels & Graydon LLP acted for Josemaria Resources with a team that included Peter O’Callaghan, Trisha Robertson, Sebastian Lowes, and Samuel Dafydd.