LEXPERT MAGAZINE
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Q3 2019 15
loan on closing and can continue to draw
down additional funds as required, up to
the $115-million term loan commitment,
through Nov. 30, 2019.
Principal repayments on the term loan
will commence on Feb. 28, 2020 at a rate
of 2.5%, or approximately $2.9 million, per
quarter thereaer. e Company may, at its
discretion, repay the balance of the Facilities
without penalty, at any time.
Legal advisors to Organigram were
David Nadler and Evita Ferreira (Banking
and Finance) of Goodmans LLP and by
Jeffrey Hoyt and Scott Wilson of McInnes
Cooper LLP.
Legal advisors to BMO were Tom Hunt-
er, Alexandra North, Brandon Brown of
Dentons Canada LLP and Maurice Chias-
son and Andrew McMackin of Stewart
McKelvey.
PURE GOLD MINING INC.
CLOSES $34.5-MILLION
BROKERED PRIVATE
PLACEMENT
CLOSING DATE: JULY 18, 2019
On July 18, 2019, Pure Gold Mining
Inc. closed a bought deal private place-
ment of 62,714,000 units, and a concur-
rent non-brokered private placement of
23,700,000 units, all at a price of $0.55 per
unit, for aggregate gross proceeds of ap-
proximately $47.5 million.
Each unit consists of one common share
of Pure Gold and one-half of one common
share purchase warrant. Each warrant is
transferrable and entitles the holder to ac-
quire one common share of Pure
Gold until July 18, 2022 at a
price of $0.85.
e brokered portion of the
offering was completed through
a syndicate of underwriters led
by Sprott Capital Partners LP
and including Velocity Trade
Capital Ltd.
Blake Cassels & Graydon
LLP acted for Pure Gold Min-
ing with a deal team that includ-
ed Bob Wooder, Kyle Misewich,
Brendan DePoe, and Christina
Huber and Paul Heller (Capital Markets).
Cassels Brock & Blackwell LLP acted
for Sprott Capital with a deal team that in-
cluded Jennifer Traub, Jonathan Chandler
and Laith Sarhan (Securities & Mining).
Oil & Gas Oil & Gas Oil & Gas
BELLATRIX EXPLORATION LTD.
COMPLETES RECAPITALIZATION
TRANSACTION
CLOSING DATE: JUNE 4, 2019
Bellatrix Exploration Ltd. ("Bellatrix" or
the "Company") (TSX: BXE), a publicly
traded Canadian oil and natural gas com-
pany engaged in exploration for, and the ac-
quisition, development and production of,
oil and natural gas reserves, completed on
June 4, 2019 a recapitalization transaction
(the "Recapitalization Transaction") pursu-
ant to a court-approved plan of arrangement
(the "CBCA Plan") under the Canada Busi-
ness Corporations Act (the "CBCA").
e Recapitalization Transaction result-
ed in, among other things, (i) the exchange
of the Company's previously outstanding
senior unsecured notes due in 2020 in the
aggregate principal amount of approxi-
mately US$145.8 million, plus all accrued
and unpaid interest, for a combination of
US$50 million of new second lien notes
due in September 2023, approximately
US$54.8 million of new third lien notes
due in December 2023, and new common
shares of Bellatrix representing approxi-
mately 51% of the Company's issued and
outstanding common shares immediately
following implementation of the Recapital-
ization Transaction, and (ii) the exchange
of the Company's previously outstanding
convertible debentures due in 2021 in the
aggregate principal amount of CA$50 mil-
lion, plus all accrued and unpaid interest, for
new common shares of Bellatrix represent-
ing approximately 32.5% of the Company's
issued and outstanding common shares im-
mediately following implementation of the
Recapitalization Transaction.
e Recapitalization Transaction re-
duced Bellatrix's outstanding indebtedness
by approximately CA$110 million, reduced
STRENGTH IN EXPERIENCE
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help you close real estate deals
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or visit stewart.ca.
© 2019 Stewart. All rights reserved.
See policies for full terms and conditions.
$190,800,000
APARTMENT
BUILDINGS
Recently Closed.
Covered by Stewart.
STG_Lexpert-basebar_strengh_v6.indd 1 7/10/19 11:54 AM
