Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.
Issue link: https://digital.carswellmedia.com/i/1480511
34 www.lexpert.ca Big Deals COMPILED BY ZENA OLIJNYK AND KIEZZSA CRUZ > ENERGY DEALS A lberta. This transaction complements ATCO's existing natural-gas storage capabilities at its facility near Carbon, A lberta. The A lberta Hub facility has a capacity of approximately 43-billion cubic feet and, like ATCO's carbon facility, is connected to the NOVA Gas Transmission (NGTL) system. Bennett Jones LLP represented ATCO with a team led by Ashley White including Anu Nijhawan and Taylor Page (Tax); Mark Powell (Derivatives); Duncan McPherson (Energ y); Beth R iley (Competition); Deirdre Sheehan (Reg ulatory); and Zach Johnson, Kathryn Shaw, and Sydney Olsen (Corporate/M&A). Blake Cassels & Graydon LLP was Canadian counsel for ArcLight with a team led by Mungo Hardwicke-Brown that included Kevin Kerr and Chi Iliya- Ndule (Corporate/M&A); Carrie Aiken, A hmed Elsaghir, and Derrick Osborne (Tax); Andrew Kolody (Financial Ser vices); and Fraser Malcolm, Garth Murray, and Julie Soloway (Competition). Orrick Herrington & Sutcliffe LLP was US counsel for ArcLight. CRESTA FUND MANAGEMENT AND AFFILIATES ACQUIRE COME BY CHANCE REFINERY CLOSING DATE: November 30, 2021 Cresta Fund Management LLC and its affili- ates acquired a controlling interest in the Come By Chance Refinery located in Come By Chance, Newfoundland. Following the acquisition, Cresta has rebranded the business conducted at the Come By Chance Refinery as Braya Renewable Fuels. Braya intends to convert the warm-idled refinery into a facility capable of producing renewable diesel and sustainable aviation fuel with initial production capacity of 14,000 barrels per day and a planned in-service date of mid-2022. Following the conversion, the Come By Chance Refinery will be one of the largest renewable diesel and sustainable aviation fuel production facilities in Canada. Silverpeak, the prior controlling entity of the Come By Chance Refinery, will continue to hold a minority interest in Braya and will participate in the refinery conversion. Norton Rose Fulbright LLP advised Cresta with a team led by Robert Froehlich and KayLynn Litton (Business Law), and that included Dion Legge (Tax), Brian Milne (Tax), Rujuta Patel (Anti-Trust and Foreign Investment), Robin Acworth (Energy trans- actional), Alan Harvie (Environmental), Andrew Schafer (Employment and Labour), Elizabeth Williams and Iwan Davies (Intellectual Property), Jennifer Lang-Hodge (Employment and Labour), and om Savery and Amanda Cerisano (Energy transactional). In addition to the transactional and tax aspects, the acquisition included advice related to anti-trust and foreign invest- ment, intellectual property and branding, employment and labour, and environ- mental considerations, warranting involve- ment from several members of the Norton Rose Fulbright Canadian team. It was also a cross-border matter with Norton Rose Fulbright US. McInnes Cooper advised Cresta on local Newfoundland and Labrador law. Stewart McKelvey advised Silverpeak. Eversheds Sutherland advised Cresta on certain operational arrangements. INPLAY OIL ACQUIRES PRAIRIE STORM RESOURCES FOR $50 MILLION CLOSING DATE: November 30, 2021 On November 30, 2021, InPlay Oil Corp. completed the acquisition of Prairie Storm Resources Corp. for a transaction value of approximately $50 million by plan of arrange- ment under section 193 of the Business Corporations Act (Alberta). e acquisition added further scale to InPlay's strategic posi- tioning as a sustainable producer and acreage holder with significant drilling inventory in the light oil window of Central Alberta's Cardium fairway. In conjunction with the acquisition, InPlay also completed a bought deal equity finan- cing by way of short form prospectus for gross proceeds of $11.5 million. e acquisition and related matters were overwhelmingly approved by holders of 100 percent of the Prairie Storm shares who voted at a special meeting of such holders held on November 29, 2021. e acquisition was also approved by the Court of Queen's Bench of Alberta on the same date. Blake Cassels & Graydon LLP represented Prairie Storm with a team led by Scott Clarke and including Sean Cahill, Matthew Santillo, and Kristopher Simard (Securities/M&A); Ky Kvisle and Jack Whelan (Corporate/M&A); Fraser Malcolm and Julie Soloway (Competition); Sean Maxwell (Pensions); and Birch Miller (Employment). Burnet Duckworth & Palmer LLP represented InPlay with a team led by Michael Sandrelli and that included Paul Mereau, Nigel Behrens, Katy Josephs, and Colleen Konkin (Securities/M&A); Kirk Lamb (Tax); and Gina Ross (Employment). STRATHCONA RESOURCES AND WATEROUS ENERGY FUND AFFILIATES ACQUIRE CALTEX RESOURCES CLOSING DATE: NOVEMBER 30, 2021 On November 30, 2021, Strathcona