EKB Lawyers Represent Pembridge Resources plc in Acquisition of Minto Mine, Yukon

EKB lawyers represented Pembridge Resources plc (LON:PERE) in their acquisition of Minto Explorations Ltd., the owner of the Minto copper-gold-silver mine in Yukon, from Capstone Mining Corp (TSE:CS).

The consideration for the purchase consists of up to US$20 million in total payments due to Capstone payable out of future cash flows and based on certain hurdles linked to production levels at Minto as well as future copper prices.

EKB also represented Pembridge in connection with securing a US$10 million financing to fund the recommencement of operations at the Minto mine. Financing has been provided by Copper Holding LLC, a New York-based private equity group, and Cedro Holdings I LLC, an entity managed by Lion Point Capital L.P., a New York-based asset manager.

Pembridge expects to recommence commercial production at Minto during the fourth quarter of 2019. David Linsley, chief executive officer of Pembridge, described the acquisition of Minto as a “transformational opportunity for Pembridge and its shareholders”.

EKB business lawyers David Allman and Kelly Samuels led the EKB team acting for Pembridge, with assistance from Riley Lalonde, Katie Gordon, and Larissa Dziubenko. EKB managed the transaction on behalf of Pembridge, providing strategic and tactical advice and leading the negotiations of the legal documentation.

For over 40 years, EKB has represented exploration and mining companies at all stages of project development in British Columbia, in Canada, and internationally. The firm’s lawyers are consistently recognized for their expertise in mining law by leading directories including Chambers Global, Who’s Who Legal, Lexpert, and Best Lawyers.

David Allman a business lawyer at the Vancouver law firm EKB

David Allman

Kelly Samuels a business and fintech lawyer at the Vancouver law firm EKB

Kelly Samuels