- within Compliance and Tax topic(s)
- with Senior Company Executives, HR and Finance and Tax Executives
- with readers working within the Accounting & Consultancy and Law Firm industries
On February 22, 2023, junior mining exploration company BTU Metals Corp. ("BTU") (TSXV: BTU) (OTC: BTUMF) announced that it had entered into a series of transactions with Kinross Gold Corporation ("Kinross") (TSX: K) (NYSE: KGC) involving significant properties of BTU in northwestern Ontario, adjacent to Kinross's Great Bear Project.
The transactions include: (i) a purchase agreement pursuant to which Great Bear Resources Ltd., a wholly-owned subsidiary of Kinross, ("GBR") acquired from BTU certain unpatented mining claims located in the Kenora District of Ontario, with BTU continuing to participate in those lands through a newly created royalty payable to BTU; (ii) an option agreement, which provides GBR with an option to earn a 70% interest in certain unpatented mining claims held by BTU located in the Kenora District of Ontario; and (iii) a subscription agreement pursuant to which Kinross purchased 25,000,000 common shares of BTU at a purchase price of CAD$0.05 per common share.
Gowling WLG advised Kinross with respect to these transactions with a team led by Erik Goldsilver and which also included Ian Mitchell, Lee Sykes and Jaanam Mahboobani.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
[View Source]
