Date closed: 3/17/16

Value: US$38.35 million

On March 17, 2016, Lydian International Inc. (Lydian) completed its public offering. The underwriters also exercised their over-allotment option in full purchasing an additional 17,250,000 Subscription Receipts increasing the total gross proceeds of the offering to US$38,352,000.

The offering was made through a syndicate of underwriters led by Scotia Capital Inc. and included BMO Nesbitt Burns Inc., GMP Securities L.P., National Bank Financial Inc. and Sprott Private Wealth L.P.

Lydian is an emerging gold developer, focused on its 100%-owned Amulsar Gold Project, located in south-central Armenia.

BLG represented Scotia Capital Inc. with a team led by Andrew Powers and including Linda Tu (Securities) and Danny Lang (Tax).