CanWel Building Materials Group Ltd. (CanWel) completed its acquisition of Jemi Fibre Corp. (Jemi) by way of court approved plan of arrangement. Pursuant to the arrangement, CanWel acquired all of Jemi’s issued and outstanding common shares.
In connection with the arrangement, CanWel completed a $25 million bought deal private placement of subscription receipts with GMP Securities L.P. acting as lead underwriter and also assumed approximately $25 million of indebtedness and refinanced approximately $50 million of Jemi’s senior loans and entered into new senior term loans with CanWel’s existing lenders.
CanWel was represented internally by R.S. (Rob) Doman and was assisted by Goodmans LLP which advised on the arrangement and bought deal private placement of subscription receipts with a team led by Michael Partridge which included Jamie van Diepen, David Coll-Black and Danny Wakeling (corporate), Carrie Smit and Michael Royal (tax) and Tom Friedland (litigation). DLA Piper (Canada) LLP with a team led by Don Collie which included Garry Mancell, Jeff Waatainen, Michael Mjanes, Elaine Tham and Emily Snow advised on matters relating to British Columbia law for corporate matters, forestry, land and due diligence. MacPherson, Leslie & Tyerman LLP with a team led by James Kerby, QC, which included Penny Yeager, Ryan Hallman and Kathy He advised on matters relating to Saskatchewan law. Bernard LLP with a team led by Catherine Hofmann which included Michael Soltynski advised on matters relating to the concurrent debt financing.
Jemi was represented by Dentons Canada LLP which advised on the arrangement with a team led by Corey MacKinnon and Kris Miks, which included Jamie Thomas and Zev Smith (corporate), Mark Jadd and Larry Nevsky (tax) and Daniel Yaverbaum (litigation).
GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Cormark Securities Inc., Haywood Securities Inc. and Paradigm Capital Inc. were represented by Wildeboer Dellelce LLP which advised on the bought deal private placement of subscription receipts with a team led by Troy Pocaluyko which included Jeff Hergott and Mack Hosseinian (corporate).
Wells Fargo Capital Finance Corporation Canada was represented by Blake, Cassels & Graydon LLP which advised on the concurrent debt financing with a team led by Samantha Rossman and Greg Umbach which included, Nicholas Roos and Aletha Utley (banking).