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
22 www.lexpert.ca Big Deals COMPILED BY ZENA OLIJNYK AND KIEZZSA CRUZ meaning of the Income Tax Act (Canada) on its co-produced geothermal and natural gas hybrid power project in Swan Hills, Alberta. Razor is a publicly traded junior oil and gas development and production company headquartered in Calgary, Alberta, concen- trated on acquiring, and subsequently enhancing, oil- and gas-producing proper- ties primarily in Alberta. McCarthy Tétrault LLP assisted Razor with a team led by Brad Squibb that included Michael J. Bennett, Niki Gill, and Matthew Hooker (Business), and Brett Anderson (Tax). BRANTFORD POWER, ENERGY+ MERGE TO FORM GRANDBRIDGE ENERGY CLOSING DATE: MAY 2, 2022 On May 2 , 2022 , Brantford Power Inc. and Energ y+ Inc. officially merged to form GrandBridge Energ y Inc., the seventh-largest municipally owned electricity distributor in Ontario. Reg ulated by the Ontario Energ y Board, GrandBridge Energ y will deliver safe and reliable electricity to 109,000 customers in Brantford, Cambridge, Brant County, and North Dumfries. The transaction is part of the merger between Brantford Energ y Corporation and Cambridge and North Dumfries Energ y+ Inc. to form the holding company GrandBridge Corporation. GrandBridge Energ y will continue to be 100 percent municipally owned, with Cambridge owning 54.3 percent, Brantford owning 41 percent, and North Dumfries owning 4.7 percent. Aird & Berlis LLP advised the City of Cambridge and the Township of North Dumfries with a team led by Ron W. Clark and including Lisa Moreau (Competition); Barbara Worndl (Tax); Dennis O'Leary (Reg ulatory/ Environmental); Danielle Shields, Emily Chittick, and Christian Nianiaris (Corporate); Sam Babe (Financial Ser vices); and Michael Hor vat (Labour & Employment). Borden Ladner Ger vais LLP served as legal counsel to Brantford Energ y and Cambridge and North Dumfries Energ y+ with a team consisting of Mark Rodger, Gian Minichini, Rob Blackstein, Danny Lang, and Joelle Kabouchi (Tax). Goodmans LLP served as legal counsel to Brantford with a team led by Dan Gormley and including Peter Ruby (Regulatory), Ira Barkin (Real Estate), and Brian Sweigman (Pensions and Benefits). BLUEARTH RENEWABLES CLOSES $145-MILLION FINANCING FOR 145 MW HAND HILLS WIND PROJECT CLOSING DATE: APRIL 27, 2022 On April 27, 2022, BluEarth Renewables closed $145 million in non-recourse debt for its 145 MW Hand Hills Wind Project, which includes construction and term debt financing. ATB Financial acted as administrative agent and coordinating lead arranger, with Desjardins, Royal Bank of Canada, and Siemens Financial as joint lead arrangers. ATB Financial, headquartered in Edmonton, Alberta, is a financial institu- tion that offers its services across Canada. McCarthy Tétrault LLP advised ATB Financial with a team led by Joseph Palin that included Audrey Bouffard-Nesbitt, Sydney Hamilton, Kerri Howard, Jamie Gibb, and Luke Madill. Osler Hoskin & Harcourt LLP served as opposing counsel. SOURCE ENERGY SERVICES ASSUMES OPERATION OF PEACE RIVER DOMESTIC FRAC SAND MINING FACILITY CLOSING DATE: APRIL 12, 2022 Source Energy Services Canada LP assumed all operations, distribution, and sale of domestic frac sand at the Peace River mining facility from Canadian Silica Industries Inc. and Contractor's Leasing Corp. (CSI). Frac sand gets its name from its use in hydraulic fracturing, a method used to produce natural gas, natural gas liquids, and oil from unconventional sources such as shale. Source entered into an operating lease, mining services agreement, and silica sand purchase agreement with CSI, which, among other things, includes: • adding 400,000 metric tonnes of domestic frac sand production capability to Source's existing portfolio of Northern White frac sand and other products • consolidating CSI's existing Peace River mining facility with Source's adjacent mineral resource exploration rights, enabling production efficiencies coupled with a long-life resource • facilitating the integration of Peace River frac sand into Source's leading distribu- tion network to enable production effi- ciencies, resulting in low-cost domestic production with significant logistical advantages; and • providing a supply of frac sand that is not rail dependent, reducing the risk of disruptions due to rail outages e transaction adds important domestic frac sand supply to Source, which, along with Source's supply of Northern White frac sand, enhances the company's ability to serve its clients effectively and efficiently. Norton Rose Fulbright LLP (Calgary) acted as legal advisor to Source, with a team > ENERGY DEALS