On February 7, 2011, Canexus Income Fund and Nexen Inc. completed a secondary offering of 74,539,604 trust units of Canexus at an offering price of $6.40 per trust unit pursuant to a short form prospectus dated January 31, 2011.
Following the completion of the offering, Nexen no longer owns any securities of Canexus, as the sale of the 74,539,604 trust units by Nexen represented Nexen's entire interest in Canexus. Canexus did not receive any of the proceeds of the offering.
Canexus was represented in-house by Diane Pettie, Vice President, General Counsel and Corporate Secretary, and by Keith Chatwin, Charles Kraus, Benjamin Hudy and Kelly Fluker (securities) and David Weekes (tax) of Stikeman Elliott LLP.
Nexen was represented in-house by Eric Miller, Senior Vice President, General Counsel and Secretary, Rick Beingessner, Vice President and Chief Legal Counsel, Corporate & Marketing, and Joseph Cumming, Counsel, and by Ross Bentley, Jeff Bakker and Olga Kary (securities) and Carrie Aiken Bereti (tax) of Blake, Cassels & Graydon LLP.
Alyson Goldman, Jacob Hoeppner and Jessica Strocen (securities) and Kirk Lamb (tax) of Burnet, Duckworth & Palmer LLP represented a syndicate of underwriters co-led by Scotia Capital Inc. and CIBC World Markets Inc. and including BMO Nesbitt Burns Inc., TD Securities Inc., RBC Dominion Securities Inc., HSBC (Canada) Inc., National Bank Financial Inc. and Acumen Capital Finance Partners Limited.