Balmoral Resources and Wallbridge Mining Company complete plan of arrangement

2 minute read
22 May 2020

On May 22, 2020, Balmoral Resources Ltd. (TSX: BAR) (OTCQX: BALMF) and Wallbridge Mining Company Limited (TSX: WM) announced the completion of a plan of arrangement between the companies. As a result of the arrangement, Balmoral became a wholly-owned subsidiary of Wallbridge and its shares were subsequently de-listed from the Toronto Stock Exchange.

Balmoral is a multi-award winning Canadian-focused exploration company with a portfolio of gold and base metal properties located within the prolific Abitibi greenstone belt. The company's flagship Detour Gold Trend Project hosts the resource-stage Bug and Martiniere West gold deposits and the Grasset nickel-copper-cobalt-PGE deposit.

Wallbridge is currently developing its 100%-owned Fenelon gold project, which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern Quebec. Wallbridge is also the operator of, and a 16.5% shareholder in, Loncan Canada Inc., a privately-held company with a large portfolio of nickel, copper, and PGM projects in Ontario's Sudbury Basin.

Gowling WLG advised Balmoral in this transaction with a team that included Daniel Allen, Brett Kagetsu, Raymond Ong, Henry Harris, Kathleen Ritchie, France Tenaille, Jill Dunn, Kean Silverthorn, Ryan Cohen and Hannah Thomson (corporate/M&A); Martin Palleson, Shayne Strukoff and Jonathan Ross (advocacy); Michael Schalke (employment); and Brent Kerr and Anita Yuk (tax).

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