Lexpert Magazine

34 www.lexpert.ca Canadian Law Awards e 26-kilometre, 138-kilovolt Kingsvale Transmission Line (KTL) was initially developed by Trans Mountain Corporation (TM) to supply power to the Kingsvale pump station as part of the Trans Mountain Expansion Project. e deal was completed in three phases from 2017 to November 2024, involving the transmission line's construction, operation, and final sale. e transaction required extensive regulatory approvals, as 60 percent of KTL is located on Crown land and subject to federal and BC regulatory oversight. is necessitated consultations with more than a dozen Indigenous groups. e transactions in the mid-market category highlight the increasing sophis- tication of mid-sized deals in Canada, the growing influence of Indigenous financial structures, and the importance of sustain- ability-driven investments in shaping the country's economic future. Canada Growth Fund's $200 million strategic investment in Entropy and carbon credit offtake agreement Burnet, Duckworth & Palmer LLP (for Entropy and Advantage) Osler, Hoskin & Harcourt LLP (for Canada Growth Fund) Torys LLP (for Brookfield Renewable) Nations Royalty Corp. and Nisga'a Nation's $100 million royalty agreement Aldridge and Rosling LLP (for Nisga'a Nation) DuMoulin Black LLP (for Nisga'a Nation) Farris LLP (for Nations Royalty) OpenGate Capital's $155 million acquisition of Cineplex Inc.'s Player One Amusement Group Blake, Cassels & Graydon LLP (for OpenGate Capital) Goodmans LLP (for Cineplex) Trans Mountain Corporation, Lower Nicola Indian Band, and EPCOR's $200 million sale of Kingsvale Transmission Line Borden Ladner Gervais LLP Dentons Canada LLP (for EPCOR) Osler, Hoskin & Harcourt LLP (for Trans Mountain) CANADIAN LAW FIRM INVOLVEMENT (CLIENT) MID-MARKET DEAL OF THE YEAR Farris LLP represented Nations Royalty. Aldridge and Rosling LLP and DuMoulin Black LLP served as co-lead counsel for Nisga'a Nation. e transaction required complex structuring to ensure long-term value generation while maintaining Indigenous control over resources. It highlights the growing role of Indigenous financial initiatives in Canada's resource sector and offers a model for future economic part- nerships between Indigenous communi- ties and the private sector. OpenGate Capital's $155 million acquisition of Cineplex's Player One Amusement Group (P1AG) is a major private equity acquisition in this cate- gory. is deal involved a complex corpo- rate carve-out, where OpenGate Capital purchased 100 percent of Player One's shares from Cineplex, marking a signif- icant shi in the gaming and entertain- ment services industry. P1AG, a Toronto-based amusement services provider, operates across Canada and the US, offering arcade game supply, installation, and maintenance services. e deal was structured to unlock liquidity for Cineplex, allowing it to deleverage its balance sheet and focus on core cinema oper- ations while ensuring Player One continued servicing Cineplex locations under a long- term exclusive supplier agreement. Blakes represented OpenGate with a team led by Kurt Sarno and Rory ffrench, while Goodmans, led by partners Tim Heeney and Brandon Hoffman, advised Cineplex. Rounding out the roster of Excellence Awardees in this categor y is Trans Mountain Corporation, Lower Nicola Indian Band, and EPCOR's $200 million sale of the K ingsvale Transmission Line, a milestone in Indigenous infra- structure ownership. This transaction marked the first time a single Indigenous group (Lower Nicola Indian Band) became the majority owner and operator of a high-voltage trans- mission line in Canada. Osler, led by Bryce Kustra, ser ved as legal counsel to Trans Mountain. Dentons law yer Robert de Guzman represented EPCOR . NATIONS ROYALTY AND NISGA'A NATION'S ... ROYALTY AGREEMENT [WAS] A FIRST-OF-ITS-KIND INDIGENOUS-LED FINANCIAL TRANSACTION

• Cover