On March 9, 2005, Provinent Corp., through a wholly owned subsidiary, Provinent Acquisition Corp., acquired all of the issued and outstanding shares of New Brunswick-based LearnStream Inc, a pioneer in e-learning courseware development. The amount of the transaction is undisclosed. In connection with the purchase of the shares, there was a restructuring of the existing debt of LearnStream held by the province of New Brunswick, the Workers Investment Fund Inc. (WIF) and the Atlantic Canada Opportunities Agency (ACOA). Provinent Corp. is a subsidiary company of Epstein Enterprises Inc.
Provinent was represented by Blake, Cassels & Graydon LLP with a team composed of John Tuzyk (corporate), Sheldon Vanderkooy (tax) and Catherine Stephen (corporate).
LearnStream was represented by Patterson Palmer with a team composed of Elizabeth Kelly (corporate) and Matthew Tweedie (corporate).
The province of New Brunswick was represented by John Logan of the Office of the Attorney General of New Brunswick. WIF was represented by Charles Sargeant, Q.C., of Allen Dixon Smith Townsend. ACOA was represented by Corinne Godbout of ACOA Legal Services.