McLeod Law acted as lead transactional counsel to Eagle Plains Resources Ltd. (“Eagle Plains”) in the closing of its spin-off transaction. The spin-off transaction involved a complex, multi-step corporate reorganization of Eagle Plains whereby approximately 50 royalty interests from Eagle Plains were transferred to its wholly owned subsidiary, Eagle Royalties Ltd. (“Eagle Royalties”). Following the transfer of the royalties, Eagle Royalties and 2513756 Alberta Ltd. amalgamated to continue as Eagle Royalties which ultimately listed on the Canadian Securities Exchange on May 24, 2023. The spin-off transaction was completed as a plan of arrangement under Section 193 of the Business Corporations Act (Alberta) and the amalgamation was completed under Section 181 of the Business Corporations Act (Alberta). Eagle Plains continues to trade on the TSX Venture Exchange under the stock symbol "EPL" and Eagle Royalties commenced trading on the Canadian Securities Exchange under the trading symbol "ER".
The McLeod Law team was led by S. (Rishi) Chakraborty (securities & capital markets), Scott Chimuk (litigation), and Spencer Chimuk (litigation), William Musani (securities & capital markets), Melanie (Mel) Bowman (securities & capital markets) and Laura Wynnyk (securities & capital markets).
Speaking about their experience working with McLeod Law, Tim Termuende, President and CEO of Eagle Plains and Eagle Royalties had the following to say: ""On behalf of the staff and management of both Eagle Plains Resources and Eagle Royalties, we would like to congratulate the legal team of McLeod Law on a job well done! This was a complex, time-consuming transaction with several complicated factors - all completed under tight time constraints. I would not hesitate to recommend Rishi Chakraborty and his team to any of our peer companies in the mineral exploration industry, regardless of the task or transaction".
Read Eagle Plains' press release here.