Date Closed

February 10, 2021

Lead Office

Toronto

Value

2.44 Billion CAD

On February 11, 2021, Endeavour Mining Corporation and Teranga Gold Corporation completed their agreement for a C$2.44B acquisition by Endeavour of all of the issued and outstanding securities of Teranga, creating a top 10 senior gold producer. The all-stock deal was carried out by way of plan of arrangement under the CBCA, pursuant to which Teranga shareholders received 0.470 of an Endeavour ordinary share for each one Teranga common share.

Both Teranga and Endeavour have substantial mining assets in West Africa. The transaction is said to create a top 10 senior gold producer in the world.

Production will be diversified across six flagship mines in three different countries; Burkina Faso, Senegal, and Côte d’Ivoire.

McCarthy Tétrault advised Endeavour with a team led by Eva Bellissimo and Shea Small that included Claire Lehan, Chris Langdon, Ainslie Hurd, Michael Shahinian, Konstantin Sobolevski, Matthew Sanders and Karl Bherer (Business), Dominique Amyot-Bilodeau (Environment), Jason Gudofsky and Erin Keogh (Competition), Raj Juneja, Kim Brown and Emily Leduc Gagné (Tax), Ben Aberant and Ben Ratelband (Employment), and Jaclyn Wang.