On January 12, 2010, Jilin Jien Nickel Industry Co., Ltd and Goldbrook Ventures Inc., completed the acquisition of (Canadian Royalties) pursuant to an all-cash takeover bid for all of the outstanding common shares and 7 per cent convertible senior unsecured debentures due March 31, 2015 of Canadian Royalties. The takeover bid was made through Jien Canada Mining Ltd. a jointly owned subsidiary of Goldbrook and Jilin Jien.

The takeover bid was initially launched by Jien Canada on August 10, 2009. On October 15, 2009, Jien Canada and Canadian Royalties entered into a Support Agreement whereby Canadian Royalties agreed to support the transaction in exchange for, among other things, an increase in the offer prices to C$0.80 in cash per share and price of C$800 per C$1000 principal amount of Debentures, plus accrued and unpaid interest up to, but excluding, the date the Debentures were taken up under the takeover bid. Total cash consideration in the takeover bid was approximately C$192 million (including accrued interest on the Debentures).

Jien Canada acquired the remaining Debentures pursuant to a redemption notice effective December 29, 2009. The remaining Shares were acquired by Jien Canada pursuant to the plan of arrangement under the provisions of the Canada Business Corporations Act.

Gowling Lafleur Henderson LLP acted for Jilin Jien with a team that included Michael Boehm, Brett Kagetsu, Lei Huang, Sheldon Klootwyk and Brent Kerr (Tax), Louis Montpellier (Mining), Henry Brown (Investment Canada) and William Vanveen (Competition).