Detour Gold relinquishes control of board to Paulson
February 11, 2019
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.