Thomson Geer is advising Canada-listed copper and gold miner Doré Copper Mining Corp. on an all-scrip merger with Australia-listed critical minerals explorer Cygnus Metals Limited to create a new Canadian-focused copper and lithium company.
On 14 October 2024, Doré and Cygnus entered into a definitive arrangement agreement to combine their respective businesses in a merger of equals transaction whereby Cygnus will acquire all the shares of Doré in an all-scrip deal by way of a Canadian plan of arrangement.
The transaction will create an ASX and TSXV-listed critical minerals explorer and developer with high grade copper and lithium resources in Quebec, Canada.
Thomson Geer is advising Doré on all Australian law aspects of the transaction.
The merger is expected to create a critical metals company while improving operational efficiencies, expanding resource potential and increasing shareholder value. The deal highlights a strategic focus on tapping into synergies and leveraging complementary assets to drive growth in the industry.
Completion of the transaction is subject to customary conditions, including, among others, court approval, regulatory approval and Doré shareholder approval. Subject to the satisfaction (or waiver) of all conditions to closing, it is anticipated that the transaction will be completed in December 2024.
The Thomson Geer team is led by Partner David Church. David is supported by Senior Associate Kajal Parmar and Law Graduates Thomas Coleman and Sascha Wholley.
Thomson Geer has acted in a significant number of transactions involving Australian and Canadian companies recently, showcasing the firm's international experience and expertise.