St Barbara Limited acquires Atlantic Gold Corporation
July 18, 2019
802.00 Million CAD
On July 19, 2019, Beedie Investments Limited completed the sale of all of its interests in Atlantic Gold Corporation pursuant to the previously announced plan of arrangement with St Barbara Limited, pursuant to which St Barbara acquired all issued and outstanding shares of Atlantic Gold Corporation for C$802 million.
The transaction was completed with cash consideration of C$2.90 plus 0.05 of a share of Artemis Gold Inc. for each common share of Atlantic Gold Corporation. Beedie Investments Limited and its affiliates collectively held approximately 28% of Atlantic’s issued and outstanding common shares and options prior to the closing.
Beedie Investments is the private equity arm of Beedie Development Group, a private real estate development company headquartered in Burnaby, B.C.
St Barbara Limited is an Australian based gold producer and explorer.
Atlantic Gold Corporation is a Canadian based gold producer with operations in Nova Scotia.
McCarthy Tétrault LLP advised Beedie with a team led by Sven Milelli that included Glynnis Morgan (Corporate) and Pat McCay (Tax).