On July 28, 2016, Fortuna Silver Mines Inc. (“Fortuna”) completed its previously announced acquisition of all of the issued and outstanding shares (“Goldrock Shares”) of Goldrock Mines Corp. (“Goldrock”) by way of plan of arrangement (the “Arrangement”). The total transaction value for the Arrangement is approximately $154.3 million. Goldrock is now a wholly owned subsidiary of Fortuna.
Pursuant to the Arrangement, Goldrock shareholders received 0.1331 of a common share of Fortuna (each whole share, a “Fortuna Share”) for each Goldrock Share held. Additionally, outstanding warrants to purchase Goldrock Shares are now exercisable for Fortuna Shares based on the same exchange ratio.
Fortuna was represented by Blake, Cassels & Graydon LLP, with a team led by Peter O'Callaghan and Kathleen Keilty that included Kevin Zimka (tax), Sean Boyle, Alexandra Luchenko, Sandra Raath and Michael Stewart.