WeirFoulds acted as legal counsel to Fox River Resources Corporation in its C$94.3 million acquisition by Avenir Minerals Limited by way of a plan of arrangement, involving the Martison phosphate project located near Hearst, Ontario.
Avenir Minerals Limited acquired all the issued and outstanding common shares of Fox River for cash consideration of $1.10 for each Common Share held completed by way of a statutory plan of arrangement under the Canada Business Corporations Act.
Fox River holds a 100% interest in the Martison Phosphate Project near Hearst, Ontario. Planned as a vertically integrated operation, the project harnesses a high-grade, large-scale igneous phosphate deposit – capable of providing secure domestic supplies of phosphate fertilizers as well as PPA for the LFP battery industry.
This transaction highlights the firm’s depth of experience advising public companies and boards on complex Canadian mergers and acquisitions, particularly in the mining and natural resources sectors. The WeirFoulds team consisted of Partners Robert Eberschlag (Public Company M&A and Mining); Michael Dolphin (Public Company M&A and Mining); Ryan Morris (Tax); Philip Cho (Commercial Litigation); Janet Bobechko (Environmental): Michael Lieberman (Real Estate); Megan Mah (Employment); and Associates Victoria Bazak (Corporate) and Claire Copland (Commercial Litigation).