Effective February 10, 2021 Teranga Gold Corporation ("Teranga" or the "Company") (TSX: TGZ) (OTCQX:TGCDF) announced that Endeavour Mining Corporation (TSX: EDV) had acquired all of the issued and outstanding securities of Teranga by way of a plan of arrangement under the CBCA. At the time of the deal's announcement in November 2020, Teranga had a market capitalization of about $2.2 billion. 

Canaccord Genuity Corp. provided a fairness opinion to the special committee of independent directors of Teranga to the effect that the consideration payable under the arrangement agreement was fair, from a financial point of view, to the shareholders of the Company. The Board of Directors of Teranga subsequently unanimously approved the arrangement.

As a result of the arrangement, Teranga has become a wholly owned subsidiary of Endeavour, and its shares will be delisted from the TSX and the OTCQX. 

Both Teranga and Endeavour have substantial mining assets in West Africa, with production diversified across mines in Burkina Faso, Senegal and Côte d’Ivoire.

Cyndi Laval of Gowling WLG advised Canaccord Genuity with respect to its role in this transaction.