Cassels Brock Represents Southern Andes Energy Inc. in its Merger with Macusani Yellowcake Inc.

Published: 04/23/2012

By Adria W. Leung, Cathy L. Mercer, Christopher B. Norton, Michael Platt

Macusani Yellowcake Inc. ("Macusani") and Southern Andes Energy Inc. ("Southern Andes") announced on April 13, 2012, that they have completed the merger of the two companies.

The transaction was carried out by way of a three-cornered amalgamation.  Under the terms of the agreement each the shareholders of Southern Andes received 0.8 of a common share of Macusani for each common share of Southen Andes they held. Prior to the completion of the merger, Southern Andes distributed all of its common shares of Caracara Silver Inc. ("Caracara") to its shareholders as a return of capital, such that each Southern Andes shareholder received approximately 0.45 shares of Caracara for each common share of Southern Andes held.

In connection with the merger, Macusani has issued 59,271,761 common shares and has reserved a further 28,717,797 common shares for issue on the exercise of former Southern Andes options and warrants.

Cassels Brock represented Southern Andes with a team that included Cathy Mercer (Securities & Mining), Adria Leung (Securities and M&A), Michael Noonan (Securities), Andrea Rigobon (Securities), Chris Norton (Corporate Tax) and Michael Platt (Corporate Tax).