Acquisition Includes Trixie Mine, one of the highest-grade gold mines in the world
Holland & Hart, as US legal advisor, represented Osisko Development Corp. (Osisko Development), a premier gold development company in North America, in its definitive agreements with IG Tintic LLC and Ruby Hollow LLC to acquire 100% of Tintic Consolidated Metals LLC (Tintic) for aggregate payments totaling approximately $177 million at closing.
Upon the closing of the transactions contemplated under the agreements, Osisko Development will acquire 100% ownership of the producing Trixie Mine, in addition to mining claims covering more than 17,000 acres in Central Utah’s historic Tintic Mining District. Tintic’s recent discovery of an ultra-high-grade structure positions Trixie as one of the highest-grade gold mines in the world. The acquisition also supports Osisko Development’s path towards becoming a leading intermediate gold producer.
For more information, please see Osisko’s press release.
The Holland & Hart mining transactional team was led by Energy and Resources partners Angela Franklin and Billi McCullough, and included Bret Huffaker, Jennifer Huntsman, Karol Kahalley, Rocío Portela-Berríos, Steve Vuyovich, Jody Williams, and John Wilson.
Holland & Hart’s specialized, multidisciplinary Mining Team has a deep understanding of the business, regulatory, and environmental challenges facing mining industry stakeholders as they continue adapting into the future.