M&A Deal Summary

Fury Gold Mines Acquires Eastmain Resources

On July 29, 2020, Fury Gold Mines acquired oil/gas exploration company Eastmain Resources

Acquisition Highlights
  • This is Fury Gold Mines’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Fury Gold Mines’ 3rd transaction in Canada.
  • This is Fury Gold Mines’ 1st transaction in Ontario.

M&A Deal Summary

Date 2020-07-29
Target Eastmain Resources
Sector Oil/Gas Exploration
Buyer(s) Fury Gold Mines
Deal Type Add-on Acquisition
Advisor(s) Maxit Capital LP (Financial)
Cassels (Legal)

Target

Eastmain Resources

Toronto, Ontario, Canada
Eastmain Resources, Inc. is a Canadian exploration company operating in the Eeyou Istchee emerging James Bay gold camp in Québec. Eastmain Resources is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

Fury Gold Mines

Toronto, Ontario, Canada

Category Company
Founded 2008
Sector Metals/Mining
DESCRIPTION

Fury Gold Mines is a Canadian-focused exploration and development company strategically positioned in three prolific mining regions: James Bay, Quebec; the Golden Triangle, British Columbia; and the Kitikmeot Region Nunavut. Fury Gold Mines was founded in 2008 and is based in Toronto, Ontario.


DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Ontario) 1 of 1
Country (Canada) 3 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-13 Homestake Resource

Vancouver, British Columbia, Canada

Homestake is an exploration stage company, acquires, explores and develops natural resource properties. Company owns a 100 percent interest in the Homestake Ridge project, located in the Kitsault Mineral district in northwestern British Columbia, subject to various royalty interests held by vendors. The project is being advanced as a potential high-grade underground mining operation. To date, 268 holes, totalling 77,845 metres, have been completed on the property by Homestake and multiple exploration targets remain to be tested on the 3,617-hectare property.

Buy $9M