The combined entity will be listed on the ASX and the TSXV
Thomson Geer has been tapped as legal counsel to Canada-listed copper and gold miner Doré Copper Mining Corp in relation to a merger with ASX-listed critical minerals explorer Cygnus Metals Limited.
The all-scrip merger will birth a Canada-focused copper and lithium company that will be listed on the ASX and the TSXV. The new entity will be based in Quebec.
The definitive arrangement agreement was signed on 14 October. Under the merger of equals deal, Cygnus will pick up all of Doré’s shares via a Canadian plan of arrangement.
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In addition to boosting operational efficiencies, the merger will bolster resource potential and increase shareholder value. According to Thomson Geer, the transaction “highlights a strategic focus on tapping into synergies and leveraging complementary assets to drive growth in the industry”.
Partner David Church advised on the Australian law aspects of the deal with support from a team that included senior associate Kajal Parmar and law graduates Thomas Coleman and Sascha Wholley.
The deal is expected to be completed by December, subject to the meeting of customary conditions such as court approval, regulatory approval and approval from Doré shareholders.