Fresnillo acquires Probe Gold in C$770 million all-cash transaction

Goodmans LLP acted for Fresnillo plc (“Fresnillo”) in connection with its acquisition of Probe Gold Inc. (“Probe”), pursuant to which a wholly-owned subsidiary of Fresnillo acquired 100% of the issued and outstanding Probe shares pursuant to a statutory plan of arrangement under the Business Corporations Act (Ontario) for an all-cash consideration of C$3.65 per share. The total equity value of the Transaction is approximately C$770 million on a fully diluted basis at completion. 

Fresnillo is the world’s largest primary silver producer and Mexico’s largest gold producer, listed on the London and Mexican Stock Exchanges (FRES). The company operates eight mines and four advanced exploration projects in Mexico, with additional exploration interests in Peru and Chile. Building on a strong track record of discovering and developing successful mines, Fresnillo aims to strengthen its position as a leading global precious metals company while expanding its project pipeline beyond Mexico.

Probe, a wholly owned subsidiary of Fresnillo plc, is focused on the exploration and development of highly prospective gold properties. The company holds a 100% interest in the multimillion-ounce Novador Gold Project, as well as an early-stage Detour Gold project, both located in Quebec.