Detour Gold relinquishes control of board to Paulson

On February 11, 2019, Detour Gold announced the results of its special shareholder meeting whereby five director nominees backed by Paulson & Co. were elected to the board of Detour Gold. The decision brought an end to a proxy battle that began in June 2018.

Detour Gold is a public mid-tier gold producer based in Toronto. It wholly owns the Detour Lake mine, a large-scale open pit operation in northeastern Ontario.

Based in New York, Paulson & Co. is an investment management firm specializing in strategies such as merger arbitrage, bankruptcy reorganizations and distressed credit, structured credit, recapitalizations and restructurings.

McCarthy Tétrault LLP advised Detour Gold with a team led by Shea Small that included Shane D’Souza, Eva Bellissimo, Scott Bergen, and Ryan MacIsaac.