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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Jilin Jien Nickel Acquires 51% Ownership of Liberty Mines

2009

Areas Asia Practice, Banking and Finance Law, Commercial Real Estate, Corporate Finance and Securities, Mining and Natural Resources

Summary

Goodmans represented Jilin Jien Nickel Industry Co., Ltd. ("JJNICL") in connection with the completion of a $30 million equity financing of Liberty Mines Inc. ("Liberty"). Under the financing, Liberty acquired 85,732,763 common shares at $0.11 per share and 186,994,510 convertible preferred shares also at $0.11 cents per share for the balance of the financing of $20,569,396. After giving effect to the financing, JJNICL owns 51% of Liberty’s outstanding common shares and upon conversion of the preferred shares into common shares would own approximately 77% of Liberty’s outstanding common shares.

JJNICL of Panshi City in China is a large-scaled nonferrous metals enterprise integrated with mining, concentrating, smelting and chemical production and is one of the biggest producers of nickel sulphate in the world. It is one of the largest holding subsidiaries of Jilin Haorong Nonferrous Metal Group Co., Ltd. and is listed on the A-share market of the Shanghai Stock Exchange.

Liberty Mines Inc. is listed on the Toronto Stock Exchange. It produces nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada.