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Concordia Resources Corp.
Acquisition by Plan of Arrangement

We acted as lead and corporate counsel to Concordia Resource Corp. in respect of the acquisition of Swala Resources Inc., a private mining company, which closed in January 2012. Swala Resources Inc.’s mining assets are located in Burkina Faso, Africa.

The acquisition transaction was effected pursuant to a plan of arrangement under the Canada Business Corporations Act pursuant to which Concordia Resource Corp. acquired all of the issued and outstanding common shares of Swala Resources Inc. in exchange for common shares of Concordia Resource Corp. at a ratio of 1.9 common shares of Concordia Resource Corp. for each common share of Swala Resources Inc.

Based on the closing price of Concordia Resource Corp.’s common shares on Friday, January 13, 2012, the closing date of the transaction, the common shares of Concordia Resource Corp. issued under the transaction were valued at approximately $12.1 million.