Douglas Shields

Partner
About

Doug Shields is a partner who practises in areas of mining project finance, corporate finance and securities law, with an emphasis on debt financings and mergers and acquisitions, both domestically and internationally.

Representative transactions include acting for senior lenders in connection with various mining project finance transactions such as the establishment and development of precious metals and other mining projects and a variety of other natural resource projects in various parts of the world.

Doug advises clients on a broad range of corporate and commercial matters, including corporate finance, corporate governance, mergers and acquisitions, refinancings, security taking and corporate reorganizations.

He also acts for a variety of clients, advising them in respect of public offerings, senior credit, bridge, mezzanine and subordinate debt financings, streaming and royalty transactions, production payment agreements, intercreditor arrangements as between the various participants in multi-layered credit stacks, private placements and other securities regulatory compliance issues.

Doug has assisted mining companies in obtaining all types of debt financing in Canada, Australia, the United Kingdom, the United States and various other international jurisdictions.

Doug has acted extensively for lenders and other finance parties specializing in public company finance, primarily in the mining and industrial sectors.

A native of Vancouver, British Columbia, Doug obtained a Bachelor of Business Administration in 1988 from Simon Fraser University and a Bachelor of Laws degree in 1991 from Osgoode Hall Law School.

Bar admissionsBritish Columbia, 1992Ontario, 2020

EXPERIENCE

  • Acted for Sprott Resource Lending in a non-revolving secured CAD140 million credit facility to Altius Minerals Corp. to fund its acquisition of coal and potash royalties from Prairie Mines & Royalty Ltd.
  • Acted for Sprott Resource Lending in connection with a 5-year senior secured project finance facility in the amount of US$60 million to Emerald Resources NL, an Australian Stock Exchange listed issuer, relating to its Okvau gold mine project in Cambodia
  • Acted for Sprott Resource Lending in connection with a 5-year senior secured project finance facility in the amount of US$225 million to Marathon Gold Corporation, a Toronto Stock Exchange (TSX) listed issuer, relating to its Valentine Lake gold mine project in Newfoundland and Labrador
  • Acted for Sprott Resource Lending in connection with a senior secured project finance facility in the amount of US$80 million to Ascot Resources Ltd., a TSX listed issuer, relating to its Premier gold mine project in British Columbia
  • Acted for Sprott Resource Lending in connection with a senior secured project finance facility in the amount of US$110 million to Hycroft Mining Holding Corporation, an NYSE listed issuer, relating to its Hycroft gold and silver mine project in Nevada
  • Acted for Sprott Resource Lending in connection with a senior secured project finance facility in the amount of US$85 million to GeoPacific Resources Limited, an Australian Stock Exchange listed issuer, relating to its Woodlark gold mine project in Papua New Guinea, together with a US$30 million stream financing transaction
  • Acted for Sprott Resource Lending in connection with its US$200 million project finance facility for Metals Acquisition Corp. in connection with its acquisition of the CSA copper mine in New South Wales, Australia. This facility was implemented concurrently with a senior credit facility, a silver stream, a copper stream and a royalty transaction
  • Acted for Sprott Resource Lending in connection with its US$150 million senior project finance facility for WAF Finance Pty Ltd. and Kiaka S.A. in connection with the Kiaka and other projects located in Burkina Faso
  • Acted for Earlston Investments Corp. in connection with its CAD25 million senior credit facility provided to Dundee Corporation
  • Acted for Sprott Resource Lending in connection with its US$130 million senior project finance facility for Robex Resources Inc. in connection with the Sycamore gold mine located in Guinea, West Africa
  • Acted for EMX Royalty Corporation ("EMX") in connection with the establishment of its US$35 million senior credit facility provided by Franco-Nevada Corporation for the purpose of financing royalty acquisitions by EMX (the "Franco Financing")
  • Acted for EMX in connection with its acquisition of EMX by Elemental Altus Royalties Corp. and the concurrent payout of the Franco Financing
  • Acted for Metalla Royalty & Streaming Ltd. ("Metalla") in connection with the establishment of its US$40 million senior credit facility provided by BMO Capital Markets and National Bank Financial for the purpose of financing royalty acquisitions by Metalla

Awards

  • Recognized, Asset-Based Lending Practice, Best Lawyers in Canada, (2026)
  • Recognized, Banking and Finance Law, Best Lawyers in Canada, (2025 – 2026)
  • Listed, Mining, Canadian Legal Lexpert Directory, (2023)
  • Listed, Mining Special Edition, Canadian Legal Lexpert Directory, (2023)
Education
  • LL.B., Osgoode Hall, York University, 1991
  • B.B.A., Simon Fraser University, 1988