On April 25, 2022, Kinross Gold Corporation announced it had entered into an agreement with Asante Gold Corporation to sell its 90% interest in the Chirano mine in Ghana for a total consideration of US$225 million in cash and shares. Upon closing of the transaction, Kinross will receive US$115 million in cash as well as a number of Asante common shares having a value of US$50 million based on the 30-day volume-weighted average price of Asante common shares prior to closing. Kinross will also receive a total deferred payment of US$60 million in cash, with 50% payable on the first anniversary of closing and the other 50% payable on the second anniversary of closing.
Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana.
Osler, Hoskin & Harcourt LLP advised Kinross Gold Corporation with a team consisting of James Brown, Michael Sproule (Corporate), Patrick Marley, Emily Gilmour (Tax), and Shuli Rodal (Regulatory).