Integra Gold and Eldorado Gold complete $590M plan of arrangement

On July 10, 2017, Integra Gold Corp. (Integra) and Eldorado Gold Corp. (Eldorado) completed a plan of arrangement pursuant to which Eldorado acquired all of the Integra shares that it did not already own. Pursuant to the plan of arrangement, Integra shareholders will collectively receive approximately $129 million cash and 77 million shares of Eldorado, (representing approximately 10 per cent of the total issued shares of Eldorado, post-completion of the arrangement). Integra will continue as a wholly owned subsidiary of Eldorado and Integra shares will be delisted from the TSXV. 

The arrangement was approved by the shareholders of Integra at its special meeting on July 4, 2017, and received approval from the Supreme Court of British Columbia on July 7, 2017. 

Cassels Brock & Blackwell LLP acted for Integra with a deal team that included David Redford, Jeffrey Roy, Jen Poirier and Samantha Prest (securities and mining), Lara Jackson and Matt Nied (litigation) and Chris Hersh (competition). 

Fasken Martineau DuMoulin LLP advised Eldorado with a team that included Georald Ingborg, Josh Lewis, Sandra Malcolm, Michael Coburn and Huy Do.

Bennett Jones LLP represented the Special Committee of the board of Integra, with a team that included James Clare, Abbas Ali Khan and Jeffrey Kerbel.