Aspenleaf Energy acquires Arcan Resources

On June 8, 2015, Aspenleaf Energy Limited (Aspenleaf) completed its acquisition of all of the issued and outstanding common shares of Arcan Resources Ltd. (Arcan).

The acquisition was carried out pursuant to the terms of a plan of arrangement that was approved by Arcan’s shareholders on June 2, 2015. The total value of the acquisition was approximately $300 million, including assumed debt. 

Aspenleaf was represented by Osler, Hoskin & Harcourt LLP. The Osler team was composed of Neal Ross and Justin Sherman (corporate/securities), Shuli Rodal (competition), Edmund Gill and Colena Der (tax) and Jason Comerford (US securities). 

Arcan was represented in Canada by Blake, Cassels & Graydon LLP. The Blakes team was composed of Michael Laffin, QC, Dan McLeod, Nav Dhaliwal, Trevor Rowles and Nicole Cargill (corporate/securities), Melanie Gaston (litigation), Julie Soloway (competition) and Carrie Aiken and Corinne MacCarthy (tax) Arcan was represented in the United States by Troutman Sanders LLP. The Troutman Sanders team was composed of Shona Smith (securities) and Amie Broder (tax).