On May 3, 2016, Altius Minerals Corporation (Altius) completed its acquisition of a copper stream from a subsidiary of Yamana Gold Inc. (Yamana) in respect of Yamana’s Chapada copper-gold mine in central Brazil. The aggregate purchase price was $78 million in cash and 400,000 Altius common share purchase warrants. The acquisition was financed in part by a new term and revolving credit facility in the amount of $150 million that was established prior to closing with a syndicate of banks led by Scotiabank.
Altius was represented by Elizabeth Breen and Steven Bennett (M&A) of Stikeman Elliott LLP.
Yamana was represented in-house by Sofia Tsakos, Vice President, Corporate Counsel, and Kathleen Caughey, Director, Legal Counsel, and by Mark Bennett, Cathy Mercer and Alexander Pizale (M&A) of Cassels Brock & Blackwell LLP.