Toronto advised shareholders of Guyana Goldfields on proxy settlement

June 14, 2019

Client: Guyana Goldfields

Our Toronto office advised Patrick Sheridan, founder and former executive chair of Guyana Goldfields Inc., and other concerned shareholders of Guyana Goldfields Inc. in their requisition of a special meeting of shareholders to, among other things, reconstitute the board of directors. The proxy contest was ultimately settled a few weeks before the annual and special meeting shareholders, which settlement resulted in a reconstituted board, a CEO succession plan to replace the incumbent CEO within six months, customary standstill by the concerned shareholders until the end of the company’s 2021 AGM and reimbursement of the concerned shareholders’ expenses in connection with the proxy contest.

The team included Walied Soliman, Evelyn Li, Nader Hasan, Karen Galpern and Jenny Ng.