skip to main content




Back to all Representative Matters
Dec 11, 2017

Firesteel Resources Closes JV Agreement with Nordic Mines AB and Concurrently Closes US$20.6 Million Financing to Restart Gold Mine in Finland

Thomas A. Fenton, Sean Mason, Melanie Cole, Peter K. Czegledy and Aaron T. Collins

Firesteel Resources Inc. (“Firesteel”), a mining company engaged in the acquisition and exploration of prospective precious and base metal properties in Canada and around the world, closed a joint venture agreement (“JV Agreement”) with Nordic Mines AB (“Nordic”) and now owns a controlling 60% interest in Nordic Mines Marknad AB (“Marknad”).

Under the JV Agreement, Firesteel will be the operator of the Laiva Mine in Finland, and intends to soon acquire the remaining 40% of the equity in Marknad in exchange for Firesteel common shares.

In addition, Firesteel has received the US$20.6 million in funds under the Prepaid Forward Gold Purchase Agreement (“PPF Agreement”) with PFL Raahe Holdings LP (“PFL”). PFL is a limited partnership organized under the laws of the Province of Ontario and an investment vehicle controlled by Pandion Mine Finance, LP.

Firesteel has received conditional approval from the TSX Venture Exchange for the transactions contemplated by both the JV Agreement and PPF Agreement.

Aird & Berlis represented Firesteel with a team comprised of Tom Fenton, Sean Mason, Melanie Cole (Capital Markets), Peter Czegledy (Corporate/Commercial) and Aaron Collins (Banking & Finance).

Areas of Expertise

Related Industries

Related Representative Matters

Representative Matters
Allied Properties REIT Completes $345 Million Public Equity Offering Margaret T. Nelligan, Sherri M. Altshuler, Anne E. Miatello, Melanie Cole, Liam Tracey-Raymont, Amy Marcen-Gaudaur, Michael D. Smith, Neill Kalvin, Zale Skolnik and Barbara Worndl Jun 24, 2019 Allied Properties Real Estate Investment Trust, a leading owner, manager and developer of distinctive urban workspace in Canada’s major cities and network-dense urban data centres in Toronto that form Canada’s hub for global connectivity, recently completed a $345 million public equity offering o...
Representative Matters
MediPharm Labs Completes $75 Million Bought Deal Financing Melanie Cole, Amy Marcen-Gaudaur, Meredith McCann and Barbara Worndl Jun 18, 2019 MediPharm Labs Corp., a leader in specialized, research-driven cannabis extraction and cannabinoid isolation, recently completed a $75 million bought deal offering of common shares.
Representative Matters
Feronia Inc. Completes US$19.3 Million Private Placement and Debt Settlement Richard M. Kimel, Amy Marcen-Gaudaur and Clair Affleck-Jacques Jun 06, 2019 Feronia Inc. recently completed a US$19.3 million private placement of common shares issued to existing shareholders Straight KKM 2 Limited, CDC Group plc and Golden Oil Holdings Limited at an issuance price of CAD$0.075 per share.