Richard Fridman

Richard is a partner in the Mergers & Acquisitions, Capital Markets and Corporate/Commercial practices and a member of the firm's Mining practice. He has a broad range of experience in all aspects of M&A, representing clients in both friendly and unsolicited public acquisition transactions as well as private acquisitions and dispositions of businesses and individual assets. Richard also advises public company boards on the ever-changing corporate governance landscape.

While Richard's practice spans multiple industries, he works most extensively with clients in the mining sector on various matters, including M&A, project finance, joint ventures, metals streaming transactions and royalty arrangements. Richard's practice includes acting for major producers, junior exploration companies and private equity funds with a mining focus.

Before joining the firm, Richard worked as a management consultant at a leading international consulting firm where he carried out assignments in Canada, the United States and Europe. He also clerked with the Honourable Mr. Justice Charles D. Gonthier of the Supreme Court of Canada in 1998. In 2011, Richard was recognized as a top lawyer under 40 in the Lexpert Rising Stars - Leading Lawyers Under 40.

Representative Work

  • 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).

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Acted for Fortis Inc. in connection with its $1.8-billion offering of convertible debentures represented by installment 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 installment receipt structure.

  • 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.

  • 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.

  • Acted for Fortis Inc. in its $601 million bought deal public offering of subscription receipts. The net proceeds were used to finance a portion of the acquisition of CH Energy Group, Inc., a New York-based regulated transmission and distribution utility.

  • Acted for Hebei Iron & Steel Group Co., Ltd. in connection with its strategic investment in Alderon Iron Ore Corp. and its Kami iron ore project.

  • Acted for the Special Committee of MOSAID Technologies Incorporated in connection with its successful defense of an unsolicited takeover bid by Wi-LAN Inc. and the resulting "white knight" agreement with Sterling Partners to acquire MOSAID by way of a plan of arrangement for approximately $590 million.

  • Acted for Xplornet Communications Inc. (formerly Barrett Xplore Inc.) in connection with the private offering of $230 million of securities, one of the largest Canadian financing telecom projects to be announced in 2011.

  • Acted for Fronteer Gold Inc. in connection with its $2.3-billion acquisition by Newmont Mining 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.

  • Acted for Fronteer Gold Inc. in connection with the $260-million sale of the uranium assets of Aurora Energy Resources Inc., a wholly owned subsidiary of Fronteer Gold, to Paladin Energy Ltd.

  • Acted for an agency syndicate led by BMO Nesbitt Burns Inc. in connection with offerings of medium term notes of Greater Toronto Airports Authority pursuant to shelf prospectuses filed in each of 2008 and 2010. Issuances of notes in the amount of $825 million, $600 million, $400 million and $600 million have been completed in each of 2008, 2009, 2010 and 2011, respectively, pursuant to this program.

  • 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.

  • 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.

  • 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.

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  • Recognized in The Best Lawyers in Canada as a leading lawyer in Mergers & Acquisitions Law.
  • Recognized in The Canadian Legal Lexpert Directory as a Repeatedly Recommended lawyer in Corporate Finance & Securities.
  • Recognized in Lexpert’s special edition Leading Canadian Lawyers in Global Mining.
  • Named in the 2011 Lexpert Rising Stars - Leading Lawyers Under 40.

Professional Affiliations

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Canadian Bar Association

New York State Bar Association

Board Memberships

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Community Involvement

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Teaching Engagements

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Speaking Engagements

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Richard speaks on topics relevant to the mining sector. Most recently, he spoke at the inaugural Mining Agreements conference on the topic of negotiating and structuring key M&A agreements, which was held on September 9 and 10, 2013, in Toronto.

Articles and Publications

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Richard co-authored the articles entitled "Unsolicited Takeover Bids: Defensive Strategies" and "When No Means Maybe: The State of the 'Just Say No' Defense in Canada" published in the Lexpert®/American Lawyer Guide to the Leading 500 Lawyers in Canada.

Richard Fridman
Richard Fridman
Bar Admissions:

Ontario, 2002

New York, 2000

Québec, 1997


New York University, LL.M. (U.S. Corporate Law), 1999

University of Ottawa, LL.B. and LL.L. (gold medallist), 1997