EAGC Ventures Corp. acquired from Petra Mining Limited, a number of South African gold mines. The value of the transaction was US$67 million and closed on October 24, 2002. Related transactions included a financing facility with Standard Bank London and Standard Bank South Africa totalling US$40 million and an equity offering of special warrants by EAGC for $65 million. The three transactions closed concurrently in late October 2002.
EAGC and its affiliates were represented by Stikeman Elliott, with a team led by Michael Allen and Jay Kellerman, and including Neville McClure and Argiro Kotsalis in Vancouver, Rob Mason in Toronto and Benoît Dubord in Montreal. John Anderson also of Stikeman Elliott, in Vancouver represented EAGC with respect to a business combination proposed by Bema Gold Corporation in the course of the deal with Petra Mining Ltd.
Wildeboer Rand Thomson Apps & Dellelce, LLP in Toronto represented the equity underwriters, with a team composed of Rob Wortzman, Troy Pocaluyko, Rob Kleinmeyer and James Brown. Fasken Martineau DuMoulin LLP in London represented Standard Bank, with a team led by John Elias and including Frédéric Boucher and Jodi Katz. Werksmans in South Africa represented the bank, with a team that included Deon Griessel, Kevin Trudgeon, Hulme Scholes, Mike Harrison, Esme Ferreira, Johan van Wyk, Elliott Wood and Zeyn Bhyat.