Gammon Lake Resources and Mexgold Resources Complete $1.8B Business Combination

Gammon Lake Resources Inc. and Mexgold Resources Inc. completed a business combination on August 9, 2006, whereby Gammon Lake acquired all of the issued and outstanding common shares of Mexgold not previously owned by Gammon Lake in a plan of arrangement valuing Mexgold at $451 million. As a result of this arrangement, Mexgold is now a wholly owned subsidiary of Gammon Lake. This transaction creates an intermediate gold-silver mining company with a fully diluted market capitalization of more than $1.8 billion.

Gammon Lake was advised by Fasken Martineau DuMoulin LLP with a team led by John Turner (mining and securities) and including Greg Ho Yuen, Bozidar Crnatovic and Krisztian Toth (mining and securities); Sam Rickett (advocacy) and Bill Bies and Mitchell Thaw (tax).

The special committee of the board of directors of Mexgold was advised by Cassels Brock & Blackwell LLP with a team led by Mark Bennett (mining and securities) and including Patrick Gleeson (mining and securities); Leigh-Ann McGowan (securities); Chris Norton (tax); Chris Hersh (competition) and Robert Cohen (advocacy).


Leigh-Ann McGowan Christopher B. Norton Mark T. Bennett Bozidar Crnatovic Gregory Ho Yuen Mitchell L. Thaw Christopher Hersh Krisztián Tóth Samuel R. Rickett John S.M. Turner William J. Bies Robert B. Cohen