Detour Gold Corporation Acquires Trade Winds Ventures Inc. 

 

December 2011

On December 1, 2011, Detour Gold Corporation acquired all of the outstanding common shares of Trade Winds for aggregate consideration of approximately $84 million.

The transaction was carried out by way of a Plan of Arrangement pursuant to the Business Corporations Act (British Columbia). By acquiring Trade Winds, Detour Gold has consolidated its ownership of the Detour Lake camp. The Detour Lake deposit is Canada's largest undeveloped pure gold reserve and ranks fourth among the top ten largest gold reserves in North America.

Detour Gold was represented by Julie Galloway its Vice-President, General Counsel and Corporate Secretary and McMillan LLP with a team (i) in Toronto that included Paul Davis, Craig Manuel, Jason Chertin, J.R. Beaudrie, Marie Bruchet, Robert Hester, Sandra Zhao (Capital Markets), Michael Friedman and Carl Irvine (Tax) and Matthew German (Real Property), and (ii) in Vancouver that included Amandeep Sandhu (Capital Markets) and Karen Carteri (Litigation).