De Beers Canada has acquired Peregrine Diamonds for C$107m ($80.87m), by purchasing all the outstanding securities of the latter through a plan of arrangement.

De Beers Canada has agreed to pay C$0.24 a share of Peregrine, as part of the agreement.

The acquisition will give access to the Chidliak diamond resource, which is located approximately 120km north-east of Iqaluit on Baffin Island in Nunavut Territory, Canada. The resource hosts 74 kimberlite pipes including the CH-6 and CH-7 pipes.

De Beers Group has engaged BMO Capital Markets as financial advisor and Fasken Martineau DuMoulin as legal counsellor for the transaction.

Based in Canada, De Beers Canada is a rough diamonds exploration and mining firm, while Peregrine Diamonds, also based in Canada, is engaged in diamond exploration.

Kirkland Lake Gold has invested approximately C$25m ($19.3m) for acquiring 14.7 million common shares priced at C$1.70 ($1.32) each of Osisko Mining in a private placement.

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By GlobalData

The investment has increased Kirkland Lake Gold’s stake in Osisko from 8.58% to 13.61%.

Based in Canada, Kirkland is a mid-tier gold producer. Osisko Mining is also based in Canada and a mineral exploration company focused on the acquisition, exploration and development of precious metal resource properties.

“The combined company will have approximately 119 million common shares outstanding.”

The transaction is expected to help Kirkland Lake Gold achieve significant ownership interest in the Urban Barry area of north-western Quebec.

Defiance Silver and ValOro Resources have entered a letter of intent (LoI) to merge and create a significant Mexico-focused exploration company with an advanced portfolio of silver and gold projects.

The combined company will have approximately 119 million common shares outstanding, with 87% held by former shareholders of Defiance and the remaining 13% by previous ValOro shareholders.

ValOro shareholders will receive 0.71 common shares of Defiance for each unit held by them as part of the transaction.

Defiance Silver is a silver explorer and developer focused on advancing the San Acacio Deposit in Mexico, while ValOro Resources is engaged in mineral exploration.

Both companies involved in the transaction are based in Canada.

Novo Resources has agreed to acquire all the issued and outstanding shares of Farno-McMahon, which holds 100% interest in four key tenements in the Egina region, including two mining leases.

Novo has also signed a binding memorandum of agreement (MoA) to acquire the Kangan gold project in the Pilbara region of Western Australia from Pioneer Resources.

The company has agreed to make a cash payment of A$200,000 ($143,401) and issue 100,000 common shares, as part of the acquisition.