Wildeboer Dellelce acts for Caldas Gold Corp. in its $54 Million Acquisition of South American Resources Corp.July 02, 2020
On July 2, 2020 Caldas Gold Corp. (“Caldas Gold”) (TSX-V: CGC; OTCQX: ALLXF) completed its acquisition of South American Resources Corp. (“SARC”) for CAD$54 million. Caldas Gold acquired a 100% interest in certain mining assets in Northeastern Ontario, known as the Juby Project, and a 25% joint venture interest in certain claims adjoining the Juby Project owned by SARC. The acquisition of all of the issued and outstanding shares of SARC was completed by way of a three-cornered amalgamation between Caldas Gold, SARC and a wholly-owned subsidiary of Caldas Gold. Caldas Gold issued 20,000,000 common shares to the shareholders of SARC and funded SARC’s US$10 million acquisition of the Juby Project and adjoining claims.
Wildeboer Dellelce LLP acted on behalf of Caldas Gold for both the acquisition and the amalgamation with a team including Perry Dellelce, Peter Volk, Ragu Anantharajah, Jessica Coco and Kassidy Doherty (corporate/securities), Tommy Sorbara and Jacqueline Daubney (real estate), and Richard Lewin and Marija Tasevska (tax).
Caldas Gold Corp.
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