Marble, columns and stairs
Jan 26, 2016

On January 26, 2016, St Andrew Goldfields Ltd. (St Andrew) completed a plan of arrangement under the Business Corporations Act (Ontario) pursuant to which Kirkland Lake Gold Inc. (Kirkland) acquired all of the outstanding shares of St Andrew to create a multi-asset, Ontario focused, intermediate gold producer. Shareholders of St Andrew received shares of Kirkland having a total equity value of approximately $178 million on a fully diluted in-the-money basis as at the time of entering into the arrangement agreement in exchange for their St Andrew shares and as a result, own approximately 29 percent of Kirkland.

The transaction was completed following receipt of approvals from the shareholders of St Andrew and Kirkland and the approval of the Ontario Superior Court of Justice.

St Andrew was represented by McMillan LLP and included a team comprising Paul Collins, Carl De Vuono, David Andrews, Caroline Samara, Brett Harrison, Laura Brazil, Robert Antenore, Ciaron Czajkowski, Carl Irvine, Dan Edmondstone, Eric Friedman, Vlad Duta, with an assist on U.S. matters from Mike Shannon and Herb Ono. The team was further supported by Karen Anderson, Darlene Artt, Dagmar Smetana, Megan Singleton and Jasmine Khan.