On May 19, 2017, Anaconda Mining Inc. and Orex Exploration Inc. completed a plan of arrangement under the Business Corporation Act (Ontario) whereby Anaconda acquired all of the outstanding common shares of Orex. Prior to the arrangement, Orex was continued from the Province of Quebec into the Province of Ontario. Orex is now a wholly-owned subsidiary of Anaconda with approximately 54.9% of the common shares of Anaconda being held by former Anaconda shareholders and 45.1% being held by former Orex shareholders.
Anaconda is an Atlantic Canada regional gold producer, developer and explorer with a producing project called the Point Rousse Project on the Baie Verte Peninsula, Newfoundland and a major development project called the Goldboro Project in Nova Scotia.
Cassels Brock acted as counsel to Anaconda with a team composed of Paul Stein, Alex Pizale, Jonathan Sherman (Securities, Mining and Mergers & Acquisitions) and James Morand (Tax).