Richard Fridman

Partner

Richard Fridman

Richard Fridman

Partner

Bar Admissions
  • Ontario, 2002
    New York, 2000
    Québec, 1997

Public and private sector clients in Canada and the U.S. trust Richard for business-minded, creative advice on all aspects of their most important business transactions and mergers and acquisitions activity. They value his expertise on both the buy and the sell sides.

While Richard provides advice across industries, including energy, technology and real estate, he has particular experience in the mining sector. Global players – including major producers, junior exploration companies and private equity firms – appreciate Richard’s tailored advice on diverse matters, including joint ventures, earn-in agreements, metals streaming transactions, royalties and off-take arrangements. He is regularly consulted for his advice on corporate governance and shareholder rights-related matters.

Richard is a board member of the Pine River Institute, a residential treatment centre for youth struggling with addictive behaviours.

Richard Fridman

Partner

Public and private sector clients in Canada and the U.S. trust Richard for business-minded, creative advice on all aspects of their most important business transactions and mergers and acquisitions activity. They value his expertise on both the buy and the sell sides.

While Richard provides advice across industries, including energy, technology and real estate, he has particular experience in the mining sector. Global players – including major producers, junior exploration companies and private equity firms – appreciate Richard’s tailored advice on diverse matters, including joint ventures, earn-in agreements, metals streaming transactions, royalties and off-take arrangements. He is regularly consulted for his advice on corporate governance and shareholder rights-related matters.

Richard is a board member of the Pine River Institute, a residential treatment centre for youth struggling with addictive behaviours.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in its historic joint venture with Newmont Goldcorp Corporation, which combined their respective mining operations, assets, reserves and talent in Nevada to create the world's largest gold complex.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in its unsolicited proposal to the Newmont Goldcorp Corporation (Newmont) Board of Directors to merge with Newmont in an all share transaction to combine the world's two largest gold companies. Under the proposal, Barrick shareholders would own approximately 55.9 percent and Newmont shareholders would own approximately 44.1 percent of the combined company with an approximate market capitalization of US$42 billion.

Fortis Inc.

Acted for Fortis Inc. in the sale of its 51% interest in the Waneta Expansion hydroelectric generating facility in British Columbia to Columbia Basin Trust and Columbia Power Corporation for approximately $1 billion.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in its recommended US$18.3-billion share-for-share merger with Randgold Resources Limited. This complex and multijurisdictional transaction created an industry-leading gold company with the greatest concentration of tier one gold assets in the industry and a diversified asset portfolio positioned for growth.

Barrick Gold Corporation

Acting for Barrick Gold Corporation in its mutual strategic investment agreement with Shandong Gold Group Co., Ltd. and related securities laws matters. Under the agreement, Shandong Gold will purchase up to $300 million of Barrick shares and Barrick will invest an equivalent amount in shares of a publicly listed company controlled by Shandong Gold, in each case, through open market purchases.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with its sale of a 25% stake in the Cerro Casale Project to Goldcorp, and the negotiation of a 50/50 regional joint venture over the Cerro Casale, Quebrada Seca and Caspiche projects in Chile's Maricunga district. This highly complex and multi-faceted transaction involved the acquisition by Goldcorp of Kinross' entire 25% interest in the Cerro Casale Project and a 25% interest in the project from Barrick, whose holding in the project will fall from 75% to 50%. Upon closing of the transaction, the joint venture was established.

Resource Capital Funds

Acted for Resource Capital Funds in connection with the privatization of Alloycorp Mining Inc. by way of an amalgamation under the Business Corporations Act (British Columbia).

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with an earn-in agreement with Alicanto Minerals of Australia. Under the terms of the Earn-In, Barrick will be able to earn a 65% interest in the Arakaka project in northwest Guyana by meeting total funding requirements of US$10 million over 4 years.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with its US$110-million sale to subsidiaries of Waterton Precious Metals Fund II Cayman, LP of a 70% interest in the Spring Valley project and 100% of the Ruby Hill mine located in Nevada.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with its US$610-million gold and silver streaming agreement with Royal Gold Inc. for production linked to Barrick's 60 percent interest in the Pueblo Viejo mine.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with the US$298-million sale to Zijin Mining Group Co., Ltd of China of a 50% interest in Barrick (Niugini) Limited, the company that owns 95% of and manages the Porgera Joint Venture gold mine in Papua New Guinea, and related strategic cooperation agreement.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with the US$550 million sale of its 100% interest in the Cowal gold mine in New South Wales, Australia to Evolution Mining Limited.

Fortis Inc.

Acted for Fortis Inc. in its $1.8-billion offering of convertible debentures represented by instalment receipts. The net proceeds from this offering are being used indirectly to partially finance the US$2.5-billion cash purchase price paid by Fortis to acquire UNS Energy Corporation, an Arizona-based integrated utility services holding company. The offering marked the first time in almost two decades that debentures were sold using an instalment receipt structure.

Sandspring Resources Ltd.

Acted for Sandspring Resources Ltd. in connection with an early deposit gold stream transaction pursuant to which Sandspring agreed to sell 10% of the life-of-mine gold production from its Toroparu project located in Guyana, South America, to a subsidiary of Silver Wheaton Corp. in exchange for an up-front US$148.5-million cash deposit plus an ongoing production payment of the lesser of the market price and US$400 per payable ounce of gold.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with its auction process and subsequent sale to Franco-Nevada Corporation of a portfolio of royalties located in various jurisdictions in North America, South America and Australia.

Fronteer Gold Inc.

Acted for Fronteer Gold Inc. in its $2.3-billion acquisition by Newmont Mining Corporation (now known as Newmont Goldcorp Corporation). The transaction was structured as a plan of arrangement providing for cash consideration and the spin off of shares of Pilot Gold Inc., a new TSX-listed company holding exploration assets, to the former shareholders of Fronteer Gold.

Barrick Gold Corporation

Acted for Barrick Gold Corporation and its wholly owned subsidiaries in connection with its US$1.25-billion public offering of debt securities due 2013, 2018 and 2038.

Creststreet Power & Income Fund LP

Acted for the Special Committee of Creststreet Power & Income Fund LP in connection with its strategic alternatives review process which culminated in the $121.6-million sale of its windpower subsidiaries to an affiliate of FPL Energy, LLC and the distribution of its net assets to unitholders.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in its pre-bid agreement with Goldcorp Inc. to dispose of certain assets acquired by Barrick in its takeover bid for Placer Dome Inc. and in the subsequent disposition of US$1.6 billion of assets to Goldcorp.

In the News

Richard Fridman Discusses Outlook for Mining Sector in 2019

Feb. 05, 2019 - Davies partner Richard Fridman recently spoke with Mergermarket to share his insights into M&A and IPO activity in the mining industry and what we can expect to see in 2019. Noting that these are “tumultuous times” for the mining sector, Richard reflects on how the current environment will affect...

Bulletin

Shareholder Engagement – ICD Provides Guidance for Canadian Companies

Mar. 10, 2016 - On March 7, 2016, the Institute of Corporate Directors (ICD), a not-for-profit director association consisting of more than 10,000 members across Canada, published guidance to help boards of Canadian public companies develop a shareholder engagement approach to corporate governance. Recent...

Speaking Engagement

Inaugural Mining Agreements Conference, “Preliminary Agreements: Letters of Intent & Confidentiality Agreements”; Toronto, ON; Sept. 09 & 10, 2013

Sept. 09, 2013

Guide

Discussion Paper: The Quality of the Shareholder Vote in Canada

Oct. 22, 2010 - Reason for the PaperAs a firm, we have extensive experience with shareholder meetings. Some of these meetings are routine, others involve proxy battles, the approval of important transactions or votes on governance matters such as shareholder rights plans or stock option plans. Together with our...

Chambers Canada: Canada’s Leading Lawyers for Business—Energy & Natural Resources: Mining

Lexpert Special Edition Leading Canadian Lawyers in Global Mining

The Canadian Legal Lexpert Directory—Corporate Commercial Law; Corporate Finance and Securities; Mergers and Acquisitions; Mining

The Best Lawyers in Canada—Mergers and Acquisitions Law

Bar Admissions

Ontario, 2002
New York, 2000
Québec, 1997

Education

New York University, LLM (U.S. Corporate Law), 1999
University of Ottawa, LLB/LLL (Gold Medallist), 1997
Clerk, The Honourable Mr. Justice Charles D. Gonthier, Supreme Court of Canada

Board Memberships

Pine River Institute

Public and private sector clients in Canada and the U.S. trust Richard for business-minded, creative advice on all aspects of their most important business transactions and mergers and acquisitions activity. They value his expertise on both the buy and the sell sides.

While Richard provides advice across industries, including energy, technology and real estate, he has particular experience in the mining sector. Global players – including major producers, junior exploration companies and private equity firms – appreciate Richard’s tailored advice on diverse matters, including joint ventures, earn-in agreements, metals streaming transactions, royalties and off-take arrangements. He is regularly consulted for his advice on corporate governance and shareholder rights-related matters.

Richard is a board member of the Pine River Institute, a residential treatment centre for youth struggling with addictive behaviours.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in its historic joint venture with Newmont Goldcorp Corporation, which combined their respective mining operations, assets, reserves and talent in Nevada to create the world's largest gold complex.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in its unsolicited proposal to the Newmont Goldcorp Corporation (Newmont) Board of Directors to merge with Newmont in an all share transaction to combine the world's two largest gold companies. Under the proposal, Barrick shareholders would own approximately 55.9 percent and Newmont shareholders would own approximately 44.1 percent of the combined company with an approximate market capitalization of US$42 billion.

Fortis Inc.

Acted for Fortis Inc. in the sale of its 51% interest in the Waneta Expansion hydroelectric generating facility in British Columbia to Columbia Basin Trust and Columbia Power Corporation for approximately $1 billion.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in its recommended US$18.3-billion share-for-share merger with Randgold Resources Limited. This complex and multijurisdictional transaction created an industry-leading gold company with the greatest concentration of tier one gold assets in the industry and a diversified asset portfolio positioned for growth.

Barrick Gold Corporation

Acting for Barrick Gold Corporation in its mutual strategic investment agreement with Shandong Gold Group Co., Ltd. and related securities laws matters. Under the agreement, Shandong Gold will purchase up to $300 million of Barrick shares and Barrick will invest an equivalent amount in shares of a publicly listed company controlled by Shandong Gold, in each case, through open market purchases.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with its sale of a 25% stake in the Cerro Casale Project to Goldcorp, and the negotiation of a 50/50 regional joint venture over the Cerro Casale, Quebrada Seca and Caspiche projects in Chile's Maricunga district. This highly complex and multi-faceted transaction involved the acquisition by Goldcorp of Kinross' entire 25% interest in the Cerro Casale Project and a 25% interest in the project from Barrick, whose holding in the project will fall from 75% to 50%. Upon closing of the transaction, the joint venture was established.

Resource Capital Funds

Acted for Resource Capital Funds in connection with the privatization of Alloycorp Mining Inc. by way of an amalgamation under the Business Corporations Act (British Columbia).

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with an earn-in agreement with Alicanto Minerals of Australia. Under the terms of the Earn-In, Barrick will be able to earn a 65% interest in the Arakaka project in northwest Guyana by meeting total funding requirements of US$10 million over 4 years.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with its US$110-million sale to subsidiaries of Waterton Precious Metals Fund II Cayman, LP of a 70% interest in the Spring Valley project and 100% of the Ruby Hill mine located in Nevada.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with its US$610-million gold and silver streaming agreement with Royal Gold Inc. for production linked to Barrick's 60 percent interest in the Pueblo Viejo mine.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with the US$298-million sale to Zijin Mining Group Co., Ltd of China of a 50% interest in Barrick (Niugini) Limited, the company that owns 95% of and manages the Porgera Joint Venture gold mine in Papua New Guinea, and related strategic cooperation agreement.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with the US$550 million sale of its 100% interest in the Cowal gold mine in New South Wales, Australia to Evolution Mining Limited.

Fortis Inc.

Acted for Fortis Inc. in its $1.8-billion offering of convertible debentures represented by instalment receipts. The net proceeds from this offering are being used indirectly to partially finance the US$2.5-billion cash purchase price paid by Fortis to acquire UNS Energy Corporation, an Arizona-based integrated utility services holding company. The offering marked the first time in almost two decades that debentures were sold using an instalment receipt structure.

Sandspring Resources Ltd.

Acted for Sandspring Resources Ltd. in connection with an early deposit gold stream transaction pursuant to which Sandspring agreed to sell 10% of the life-of-mine gold production from its Toroparu project located in Guyana, South America, to a subsidiary of Silver Wheaton Corp. in exchange for an up-front US$148.5-million cash deposit plus an ongoing production payment of the lesser of the market price and US$400 per payable ounce of gold.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in connection with its auction process and subsequent sale to Franco-Nevada Corporation of a portfolio of royalties located in various jurisdictions in North America, South America and Australia.

Fronteer Gold Inc.

Acted for Fronteer Gold Inc. in its $2.3-billion acquisition by Newmont Mining Corporation (now known as Newmont Goldcorp Corporation). The transaction was structured as a plan of arrangement providing for cash consideration and the spin off of shares of Pilot Gold Inc., a new TSX-listed company holding exploration assets, to the former shareholders of Fronteer Gold.

Barrick Gold Corporation

Acted for Barrick Gold Corporation and its wholly owned subsidiaries in connection with its US$1.25-billion public offering of debt securities due 2013, 2018 and 2038.

Creststreet Power & Income Fund LP

Acted for the Special Committee of Creststreet Power & Income Fund LP in connection with its strategic alternatives review process which culminated in the $121.6-million sale of its windpower subsidiaries to an affiliate of FPL Energy, LLC and the distribution of its net assets to unitholders.

Barrick Gold Corporation

Acted for Barrick Gold Corporation in its pre-bid agreement with Goldcorp Inc. to dispose of certain assets acquired by Barrick in its takeover bid for Placer Dome Inc. and in the subsequent disposition of US$1.6 billion of assets to Goldcorp.

In the News

Richard Fridman Discusses Outlook for Mining Sector in 2019

Feb. 05, 2019 - Davies partner Richard Fridman recently spoke with Mergermarket to share his insights into M&A and IPO activity in the mining industry and what we can expect to see in 2019. Noting that these are “tumultuous times” for the mining sector, Richard reflects on how the current environment will affect...

Bulletin

Shareholder Engagement – ICD Provides Guidance for Canadian Companies

Mar. 10, 2016 - On March 7, 2016, the Institute of Corporate Directors (ICD), a not-for-profit director association consisting of more than 10,000 members across Canada, published guidance to help boards of Canadian public companies develop a shareholder engagement approach to corporate governance. Recent...

Speaking Engagement

Inaugural Mining Agreements Conference, “Preliminary Agreements: Letters of Intent & Confidentiality Agreements”; Toronto, ON; Sept. 09 & 10, 2013

Sept. 09, 2013

Guide

Discussion Paper: The Quality of the Shareholder Vote in Canada

Oct. 22, 2010 - Reason for the PaperAs a firm, we have extensive experience with shareholder meetings. Some of these meetings are routine, others involve proxy battles, the approval of important transactions or votes on governance matters such as shareholder rights plans or stock option plans. Together with our...

Chambers Canada: Canada’s Leading Lawyers for Business—Energy & Natural Resources: Mining

Lexpert Special Edition Leading Canadian Lawyers in Global Mining

The Canadian Legal Lexpert Directory—Corporate Commercial Law; Corporate Finance and Securities; Mergers and Acquisitions; Mining

The Best Lawyers in Canada—Mergers and Acquisitions Law

Bar Admissions

Ontario, 2002
New York, 2000
Québec, 1997

Education

New York University, LLM (U.S. Corporate Law), 1999
University of Ottawa, LLB/LLL (Gold Medallist), 1997
Clerk, The Honourable Mr. Justice Charles D. Gonthier, Supreme Court of Canada

Board Memberships

Pine River Institute