Lexam Explorations And VG Gold Combine

On January 1, 2011, Lexam Explorations Inc. and VG Gold Corp. combined to form Lexam VG Gold Inc., having a market capitalization of approximately $275 million, through a plan of arrangement under the Business Corporations Act (Ontario). Lexam VG Gold is listed on the TSX and has a strategic land position around Goldcorp Inc.'s Dome Mine Project, which has produced 17 million ounces of gold in the centre of the Timmins Gold Camp.

Lexam Explorations was led by Nils Engelstad, Vice President, Legal, and represented by Fraser Milner Casgrain LLP with a team that included Michael Melanson, Ralph Shay, David Coultice and Maja Czubernat (corporate/M&A/securities); Michael Schafler and Arden MacLean (litigation) and Zahra Nurmohamed and Matthew Peters (tax). The Special Committee of the Board of Directors of Lexam Explorations was represented by Quentin Markin of Stikeman Elliott LLP.

VG Gold was represented by Blaney McMurtry LLP with a team that included Nadim Wakeam and Patrick Gervais (corporate/M&A/securities) and Bradley Phillips (litigation). The Special Committee of the Board of Directors of VG Gold was represented by Richard Lachcik of Macleod Dixon LLP.

US counsel on the transaction was Dorsey & Whitney LLP with a team that included Christopher Barry and Jodie Kaufman Davis (corporate/M&A/securities) and John Hollinrake and Greg Perry (tax).