On April 8, 2009, Quadra Mining Ltd. completed the acquisition of Centenario Copper Corporation pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia). The transaction was valued at $110 million. Upon completion of the arrangement, Quadra acquired all of the issued and outstanding securities of Centenario. Former shareholders of Centenario received 0.28 common shares of Quadra in exchange for each common share of Centenario. Former holders of options to acquire Centenario shares received options to acquire Quadra shares, with the exercise price of such options and the number of options to be acquired on the exercise thereof adjusted in accordance with the same exchange ratio.
Quadra was represented by McCarthy Tétrault LLP with a team including Cameron Belsher, Brian Vick, Robin Mahood, Sam Adkins, Morgan Troke and Adam Wanke (business law); and Kevin Wright (financial services).
Centenario was represented by Blake, Cassels & Graydon LLP, with a team including Bob Wooder, Kathleen Keilty, Michelle Audet and Michael Macaulay (business law); David Zacks and Samantha Richer (financial services); Kevin Zimka (tax); and Sean Boyle (litigation).