Rubicon Minerals announces completion of restructuring transaction

Date Closed

December 20, 2016

Lead Office

Vancouver

Value

73.00 Million USD

On December 20, 2016, Rubicon Minerals Corporation ("Rubicon") completed its refinancing and restructuring transaction pursuant to a plan of compromise and arrangement under the Companies' Creditors Arrangement Act. 

In connection with the restructuring transaction, Rubicon also entered into an exchange of the Gold Stream Facility with Royal Gold, Inc. ("Royal Gold") for 5.58% equity interest in Rubicon, a 1.0% Net Smelter Royalty ("NSR") on all of Rubicon's land holdings in Ontario, a 2.5% NSR on Rubicon's Nevada/Utah properties, and an assignment of Rubicon's rights to acquire any portion of an existing NSR that is subject to a buyback provision and a right of first refusal in respect of any royalty, stream, participating interest in production or amount of gold or other minerals based on production, that Rubicon wishes to offer for sale in relation to Rubicon's current properties.

Royal Gold is a global streaming and royalty company.

McCarthy Tétrault LLP advised Royal Gold with a team led by Roger Taplin (Mining and M&A) and Christopher Langdon (Mining and M&A) and included James Gage (Bankruptcy and Restructuring).

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