26 LEXPERT MAGAZINE
|
SEPTEMBER 2017
BIG DEALS
expected to greatly improve odour and noise
impacts in the community. Construction is
scheduled to conclude in July 2020.
e City of Hamilton's legal team was led
in-house by Brian Decaire, Lawyer, Legal
Services, City of Hamilton. e City was
supported by Blake, Cassels & Graydon
LLP with a team that included Judy Wil-
son, Marianne Smith, eresa Chan, Alyssa
Shivji, Stephanie Console, Michael Cork,
Jason MacIntyre and Lisha Li.
Harbour City Solutions General Partner-
ship was represented by McMillan LLP
with a team that included Ahsan Mirza, Ju-
lie Han, Tayleigh Armstrong and Michelle
Boodhoo, and Bird-Maple Reinders Joint
Venture was led in-house by Todd Mandel,
Kellie Mildren and Kathryn Lack. Synagro
Hamilton Operating LP was led in-house
by Al Slepian with assistance from Fasken
Martineau DuMoulin LLP with a team
that included Stephen Kerr, Kathleen But-
terfield, Sean Stevens and Tom Barlow.
Financing for the project was provided by
way of a consortium of lenders represented
by Jamie Templeton, Scott Perrin and Shona
Sinclair of Stikeman Elliott LLP.
Oil & Gas Oil & Gas
VESTA ENERGY CORP.
COMPLETES $295M
EQUITY FINANCING
CLOSING DATE: MAY 26, 2017
Vesta Energy Corp. (Vesta) completed a
$295-million equity financing co-led by en-
ergy private equity firms Riverstone Hold-
ings, LLC (Riverstone) and JOG Capital
Corp. (JOG). Other investors included
members of the Vesta management team.
Vesta's financial advisors were BMO Capi-
tal Markets and Goldman Sachs Canada.
Bennett Jones LLP acted as legal counsel
to Vesta with a team including John Mer-
cury, David Spencer, Kahlan Mills, James
McClary, John Lawless, Steve Gow, Bradley
Eidsness (corporate) and Darcy Moch (tax).
Latham & Watkins LLP acted as US le-
gal counsel to Riverstone with a team includ-
ing Nicholas Luongo, Elizabeth More and
Cierra Warren (corporate).
Norton Rose Fulbright Canada LLP
acted as Canadian legal counsel to River-
stone with a team including Justin Ferrara,
Grant Stevens and Kyle Johnson (corporate)
and Ryan Keays and Tina Sun (energy).
Blake, Cassels & Graydon LLP acted as
legal counsel to JOG with a team of Daniel
McLeod and Trevor Rowles (corporate).
VILLAGE FARMS
AND EMERALD HEALTH
FORM JOINT VENTURE
CLOSING DATE: JUNE 6, 2017
On June 6, 2017, Village Farms Internation-
al, Inc. (Village Farms) and Emerald Health
erapeutics Inc., together with its affiliates
(Emerald), entered into a definitive agree-
ment to form a joint venture for large-scale,
high-quality, low-cost cannabis production.
Under the terms of the agreement, Village
Farms initially contributed a 1.1-million
square-foot greenhouse facility in Delta, BC.
e greenhouse is located on a 50-acre par-
cel of land (with ancillary buildings), which
will be converted to ACMPR-compliant
(Access to Cannabis for Medical Purposes
Regulations) production and, if permitted by
applicable law, production for the non-thera-
peutic adult-use market.
Emerald will initially contribute an ag-
gregate of $20 million in cash (of which
$2 million was advanced at closing and the
remaining $18 million will be advanced in
tranches upon satisfaction of certain mile-
stones to be determined by the board of
directors of the joint venture) to fund con-
version of the greenhouse.
Each party will have a 50-per-cent owner-
ship stake in the joint venture.
e transaction closed concurrently with
the signing of a definitive agreement, at
which time the joint venture leased (with the
option to buy) the greenhouse assets.
e joint venture also entered into an
agreement with Village Farms for options
to lease or purchase from Village Farms a
second 1.1-million square-foot greenhouse
and a 2.6-million square-foot greenhouse,
both of which are located adjacent to the ac-
quired greenhouse.
Combined, these three greenhouse assets
could provide the joint venture with a total
potential aggregate production capacity of
approximately 4.8 million square feet.
Village Farms International, Inc. was
represented by Torys LLP with a team that
included Sabrina Gherbaz and Nooreen
Bhanji (real estate/joint venture), Michael
Zackheim and Kevin Armitage (corporate/
securities), Eileen McMahon and Manpreet
Singh (cannabis licensing/food and drug
regulatory) and Richard Johnson (tax).
Emerald Health erapeutics Inc. and its
affiliates were represented by McCullough
O'Connor Irwin LLP with a team that
included James Beeby, Lisa Andrews and Ta-
jinder Rathor.
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