885 West Georgia St, Suite 2200, HSBC Bldg, Vancouver, BC
Year called to bar: 2000 (ON); 2012 (BC)
David Budd is a leading debt finance lawyer practising in the Toronto and Vancouver offices of Cassels. David acts for domestic and international resource companies, streaming companies, alternative lenders, equipment finance companies, and banks, and his practice focuses on both Canadian and multi-jurisdictional finance transactions with a specific emphasis on project finance, asset equipment finance, corporate credit, and acquisition facilities. David has significant experience with project finance, including a particular expertise in navigating the complexities between project and asset equipment finance. He advises across a broad range of industries, with a specific focus on the mining industry and sports franchises. As a member of the Mining Group at Cassels, David has worked extensively with resource companies on a wide variety and type of secured and unsecured financings in the Americas, Africa, Europe, and Asia. David has written on a variety of topics related to debt finance, including asset equipment finance. He was called to the Ontario Bar in 2000 and the British Columbia Bar in 2012.
On July 25, 2018, Wheaton Precious Metals Corp. (Wheaton), through its wholly-owned subsidiary Wheaton Precious Metals International Ltd. (Wheaton International), closed a gold and palladium streaming agreement with Sibanye Gold Limited (Sibanye).
Victoria Gold Corp. entered into a series of definitive financing agreements with Orion Mine Finance (Orion), Osisko Gold Royalties Ltd. (Osisko) and Caterpillar Financial Services Ltd. (Cat Financial) with respect to a construction financing package totaling approximately $505 million in aggregate (the Financing).
On May 10, 2018, First Majestic acquired all of the issued and outstanding common shares of Primero Mining Corp. (Primero) and shareholders of Primero received 0.03325 First Majestic shares for each share of Primero held pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia).
On July 14, 2017, Lithium Americas Corp. (Lithium Americas) completed a $355,000,000 financing transaction with Ganfeng Lithium Co., Ltd. (GFL) and Bangchak Corporation Public Company Ltd. (BCP) to finance the development of the Cauchari-Olaroz lithium project in Argentina.
On August 16, 2016, Vale S.A. (“Vale”) completed the sale to Silver Wheaton Corp (“Silver Wheaton”) of an additional 25 per cent of the gold by-product stream from Vale’s Brazilian Salobo copper mine for US$800 million and approximately US$23 million in option value arising from re-pricing of certain Silver Wheaton warrants.
Torex Gold Resources Inc., through its subsidiary Minera Media Luna, S.A de C.V., signed a credit agreement dated as of August 6, 2014, with BMO Harris Bank N.A., BNP Paribas, Commonwealth Bank of Australia, ING Bank N.V., Société Générale, and The Bank of Nova Scotia on a syndicated senior secured US$375 million project finance facility that is due to mature June 30, 2022.