On June 17, 2016, First Mining Finance Corp. (First Mining) (FF: TSX-V) completed its acquisition of Tamaka Gold Corporation (Tamaka Gold). The acquisition of Tamaka Gold was completed pursuant to an amalgamation of Tamaka Gold and a wholly owned subsidiary of First Mining. The shareholders of Tamaka Gold received an aggregate of 92.5 million common shares of First Mining (valued at approximately $70 million as of the closing date).
Tamaka Gold was a privately held mineral exploration company with a 100 per cent interest in the Goldlund project. The Goldlund project is a gold exploration/development project consisting of 167 claims and three leases covering approximately 26,600 hectares in northwestern Ontario.
First Mining is a mineral property holding company whose principal business activity is to acquire high quality mineral assets with a focus in the Americas. Prior to its acquisition of Tamaka Gold, First Mining had a portfolio of 28 mineral assets in Canada, Mexico, and the United states with a focus on gold.
First Mining was represented by McCullough O’Connor Irwin LLP with a team led by James Beeby, and including Lisa Stewart and Sarah Harper (M&A) in Vancouver.
Tamaka Gold was represented by DLA Piper (Canada) LLP with a team led by Noam Goodman and including Russel Drew (M&A) and Kevin Fritz (tax) in Toronto. Haywood Securities Inc. provided financial advice and a fairness opinion to Tamaka Gold.