Orion Mine Finance Acquires Dalradian Resources
September 01, 2018
537.00 Million CAD
On September 1, 2018, Dalradian Resources ("Dalradian") completed the sale of all its issued and outstanding common shares to Orion Mine Finance ("Orion") by way of a statutory plan of arrangement under the Business Corporations Act (Ontario) for cash consideration of C$1.47 per share, valuing Dalradian's total equity at approximately C$537 million. Under the terms of the arrangement agreement, the Dalradian shares held by certain members of the Dalradian senior management team, Osisko Gold Royalties Inc. (a shareholders of Dalradian), and Sean Roosen (a member of Dalradian’s Board of Directors and a principal of Osisko) (collectively, "Remaining Shareholders") were not acquired by Orion. Following the acquisition, Dalradian and Orion will work together to secure planning permission for the Curraghinalt mine using best-in-class mining, processing and environmental standards.
Osisko is an intermediate precious metal royalty company, headquartered in Montreal. Osisko has been a shareholder of Dalradian since October 2017.
Dalradian is a mineral exploration and development company, listed on TSX and London (AIM). Dalradian is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland.
McCarthy Tétrault advised Osisko with a team led by Philippe Fortier that includes Philippe Leclerc and Eva Bellissimo.