China Sci-Tech Acquires Chariot Resources for $249.6 Million

Advised Chariot Resources in British Columbia in connection with its acquisition by China Sci-Tech

Matter Value: CAD 249,600,000

On June 10, 2010, China Sci-Tech Holdings Limited, through its wholly owned subsidiary China Sci-Tech Minerals Limited, acquired Chariot Resources Limited, a natural resource exploration company with property interests including the Mina Justa copper project in Peru. The acquisition was completed pursuant to an arrangement agreement entered into on February 28, 2010, and was effected by way of a plan of arrangement under the Business Corporations Act (British Columbia).

The aggregate consideration paid to acquire all of the outstanding shares of Chariot was approximately $249.6 million. Chariot shareholders received $0.67 for each Chariot common share held. The plan of arrangement was approved by Chariot shareholders on May 31, 2010, and received final court approval on June 7, 2010.

Chariot Resources was represented in British Columbia by Davis LLP with a team including Donald Bell, Stuart Morrow (corporate/securities) and Brent MacLean (litigation) ..

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Brent MacLean
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