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
24 www.lexpert.ca Big Deals COMPILED BY ZENA OLIJNYK AND KIEZZSA CRUZ led by Kirk Litvenenko (Business Law) and supported by Michael Bolitho (Real Estate); Marlow Gereluk (Banking); Tom Collopy and Alan Harvie (Business Law); Darren Hueppelsheuser (Tax); Christina Winger (Banking); and Tom Savery (Business Law). Fasken Martineau DuMoulin LLP served as legal advisors to CSI, with a team led by Scott Whitby (Business Law), with support from Larissa Svekla (Real Estate), Allison Sears (Regulatory), Andrew Dixon (Employment), Clarke Barnes (Tax), and Andrew Burt (Banking). JOURNEY ENERGY CLOSES $12.10- MILLION BOUGHT DEAL FLOW- THROUGH SHARE FINANCING CLOSING DATE: MARCH 18, 2022 On March 18, 2022, Journey Energy Inc. closed the bought deal flow-through share financing that was previously announced on February 28, 2022. e full 15 percent over-allotment was exercised, bringing the total equity issuance to 2,852,000 flow- through common shares at a price of $4.25 per share for total gross proceeds of $12,121,000. Acumen Capital Finance Partners Limited acted as the sole underwriter for the offering. Journey is a Canadian exploration and production company focused on conven- tional, oil-weighted operations in western Canada. Journey's strategy is to grow its production base by drilling on its existing core lands, implementing water flood projects, and executing on accretive acquisitions. Journey seeks to optimize its legacy oil pools on existing lands through the application of best practices in horizontal drilling and, where feasible, with water floods. McCarthy Tétrault LLP assisted Journey with a team led by Brad Squibb that included Farhiyah Shariff, Simran Choongh, and Matthew Hooker (Business). Torys LLP served as counsel to Acumen with a team led by Scott Cochlan and Janan Paskaran, and that included Michael Pedlow, Jennifer Baugh, and Jon McDonald (Corporate/Canadian securities); Craig Maurice; and Steve Marshall (Tax). PEAK RENEWABLES ACQUIRES CHETWYND PULP MILL CLOSING DATE: MARCH 17, 2022 Peak Renewables Ltd. announced the acquisi- tion of Chetwynd Pulp Mill from Chetwynd Mechanical Pulp Inc., a subsidiary of Paper Excellence. e Chetwynd Pulp Mill has been out of service since 2015. Following its acquisition, Peak Renewables will remediate the mill site and repurpose the land and buildings to other industrial uses. Peak Renewables Ltd., headquartered in Vancouver, BC, is a wholly owned subsidiary company within Brian Fehr Group Holdings Ltd. Peak Renewables holds a portfolio of sustainable energy projects and real estate across North America. McCarthy Tétrault LLP advised Peak Renewables with a team led by Sven Milelli that included omas Fung (Business). Miller Titerle + Company advised Chetwynd Mechanical Pulp with a team led by David Allardice and supported by Sasha Platz and Stephen Pederson. RUBELLITE ENERGY CLOSES $25.3- MILLION FINANCING WITH PETERS & CO. AS LEAD UNDERWRITER CLOSING DATE: MARCH 30, 2022 On March 30, 2022 , Rubellite Energ y Inc. completed a $25.3-million bought deal public offering with a syndicate of underwriters led by Peters & Co. Limited and a $13.4-million concurrent private placement offering. Pursuant to the bought deal offering, Rubellite issued 7,130,000 common shares, including 930,000 common shares issued pursuant to the exercise in full of the overallotment option granted to the underwriters. The shares were issued at a price of $3.55 per share for total gross proceeds of $25,311,500. The offering was made through a syndicate of underwriters led by Peters & Co. that included BMO Nesbitt Burns Inc., ATB Capital Markets Inc., Stifel Nicolaus Canada Inc., Cormark Securities Inc., and Raymond James Ltd. Concurrently with the offering, Rubellite also closed a non-brokered private placement in which certain directors, officers, and employees of the company and Perpetual Energ y Inc. and their respective associates and relatives purchased 3,783,820 common shares at a price of $3.55 per common share for gross proceeds of $13,432,561. Rubellite is a Canadian energ y company engaged in the exploration, development, and production of heavy crude oil from the Clearwater formation in Eastern Alberta, utilizing multi-lateral drilling technolog y. Rubellite has a pure play Clearwater asset base and is pursuing a robust organic growth plan focused on superior corporate returns and funds flow generation while maintaining a conservative capital struc- ture and prioritizing environmental, social, and governance (ESG) excellence. Peters & Co. is an independent, fully integrated investment dealer focused on in investments in the Canadian energy sector. Burnet Duck worth and Palmer LLP advised Rubellite with a team led by James Kidd that included Bronw yn Inkster, Katy Josephs, and Tyler Engelking. McCarthy Tétrault LLP advised Peters & Co. with a team led by A lyson > ENERGY DEALS