LEXPERT MAGAZINE
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NOVEMBER/DECEMBER 2017 21
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CORPORATE TRANSACTIONS OF IMPORTANCE
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vate placement of 2,500,000 Class B Shares
at $10.00 per Class B Share for gross pro-
ceeds of $25 million. On closing of the quali-
fying acquisition, Gibraltar Growth changed
its name to LXRandCo, Inc. and became a
publicly listed company trading on the TSX
under the symbols "LXR" and "LXR.WT,"
respectively. LXR will continue to be led by
its founders, Fred Mannella and Kei Izawa,
along with its current management team.
is transaction marks the final qualify-
ing acquisition of Canada's "First Genera-
tion" SPACs. (e TSX originally adopted
its listing rules for SPACs in 2008 in order
to emulate the NASDAQ and the NYSE.
However, the "First Generation" of these
investment vehicles was not launched un-
til 2014. Successful qualifying acquisitions
have since been completed by SPACs such
as Acasta Enterprises, Alignvest Acquisition
Corp. as well as Kew Media Group.)
LXR is a rapidly growing, international
omni-channel retailer of branded vintage
luxury handbags and accessories.
e company sources and sells authenti-
cated, high-quality pre-owned products from
iconic luxury brands such as Hermès, Louis
Vuitton, Gucci and Chanel, through a retail
network of stores located in major depart-
ment stores in Canada, the US and Europe;
wholesale operations (primarily in the US);
and its own e-commerce website.
Goodmans LLP represented Gibraltar
Growth with a team led by Stephen Pin-
cus and Bill Gorman that included Victor
Liu, David Coll-Black and Nofa Khadduri
(corporate/M&A), Lisa Mantello (banking),
Jon Northup and Ken Saddington (tax), Su-
san Garvie (employment) and Francy Kuss-
ner (insurance).
Mannella Gauthier Tamaro, Avocats
Inc. represented LXR with a team that in-
cluded Luc Mannella and Natalia Quiroz.
Stikeman Elliott LLP represented
Canaccord Genuity Corp., the financial ad-
visor to the Corporation and sole agent on
the private placement, with a team that in-
cluded Simon Romano and William Scott.
Consumer Services Energy & Power Pipelines
Aerospace & Defence Automotive Materials
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
E-Commerce Construction & Engineering
Consumer Staples
ROGERS SUGAR INC. ACQUIRES
L.B. MAPLE TREAT CORP.
CLOSING DATE: AUGUST 5, 2017
On August 5, 2017, Lantic Inc., a wholly
owned subsidiary of Rogers Sugar Inc., ac-
quired all the outstanding shares of L.B. Ma-
ple Treat Corp. (LBMT) for $160.3 million,
subject to post-closing adjustments.
In conjunction with the acquisition, Rog-
ers Sugar completed a public offering (Of-
fering) of subscription receipts for gross
proceeds of $69.2 million and $57.5 million
aggregate principal amount of Sixth Series
5-per-cent extendible convertible unsecured
subordinated debentures through a syndi-
cate of underwriters co-led by TD Securities
Inc. and BMO Capital Markets.
Additionally, Lantic's credit facility with
a syndicate of banks co-led by e Toronto-
Dominion Bank and Bank of Montreal was
amended and increased by $75 million to
$275 million.
Congratulations
to our Rising Star,
Mark Wiseman!
We are so very proud of
your recognition as one
of Lexpert's Rising Stars.
Your leadership, strong
business acumen and drive
for excellence are truly an
inspiration to all of your
colleagues at Sobeys.
