Jiangxi Copper (Hong Kong) Investment Company Ltd. acquires common shares in SolGold plc

On November 23, 2022, Jiangxi Copper (Hong Kong) Investment Company Limited (“Jiangxi Copper”) acquired 155,000,000 common shares in SolGold plc (LSE & TSX: SOLG) (“SolGold”) at a price of US$0.20 per share for a total investment of US$31 million. On closing of the acquisition, Jiangxi Copper owned 6.3% ‎of the issued ordinary share capital of SolGold.

SolGold is a leading exploration and development company focused on the discovery, definition, and development of world class copper and gold deposits, including its flagship Cascabel Project in Ecuador.

Jiangxi Copper is a China-based company, principally engaged in the mining, smelting and processing of copper. The company is also involved in the extraction and processing of precious metals and dissipated metals, sulfur chemical industry business, and financial and trading businesses.

McMillan acted as counsel to Jiangxi Copper, with a national and multi-disciplinary team led by Stephen Wortley, Michael Taylor and Andrew Spencer and with support from Neil Campbell, Barbara Zee and Navaneeth Ravichandran in connection with this cross-border transaction.

To address our client’s needs and help them stay ahead, the firm’s Mergers and Acquisitions (“M&A”) Group, which provides trusted counsel to merging parties and related stakeholders in M&A activity across various industries, joined forces with our Capital Markets & Securities Group, who advise, among others, on equity and debt offerings. McMillan’s lawyers work on deals of all shapes and sizes in the debt and equity spaces and have worked and negotiated with all levels of lenders, on behalf of public and private clients ranging from Fortune 500 companies to fast-growing small and medium-sized enterprises, for transactions originating in Canada, the US and internationally.