Detour Gold merges with Kirkland Lake Gold Ltd. for CA$4.9 billion
Clients Detour Gold Corporation
Jones Day advised Detour Gold Corporation in connection with its CA$4.9 billion stock merger with Kirkland Lake Gold Ltd. Under the terms of the Transaction, all of the issued and outstanding common shares of Detour Gold were exchanged at a ratio of 0.4343 of a Kirkland Lake Gold common share for each Detour Gold common share. Existing Kirkland Lake Gold and former Detour Gold shareholders now own approximately 73% and 27% of the issued and outstanding Kirkland Shares, respectively.