Skip to main content

PLEASE NOTE: For everyone’s safety, Fasken recommends anyone on-site at our Canadian offices be familiar with the COVID-19 recommendations in place which may include one or more of the following: social distancing, hand sanitizing, wearing a mask in common areas and proof of full vaccination. These measures apply to lawyers, staff, clients, service providers and other visitors.

Client Work

Added Capital completes qualifying transaction with Lakeside Steel

Fasken
Reading Time 1 minute read Subscribe

Overview

Client

Lakeside Steel

On November 30, 2007, Added Capital Corp. completed its qualifying transaction with Lakeside Steel Corporation whereby Added Capital acquired all of the 61,809,524 issued and outstanding common shares of Lakeside on a one for one basis. The transaction was completed by way of a "three cornered" amalgamation among Added Capital, Lakeside and a wholly-owned subsidiary of Added Capital. In connection with the qualifying transaction, Lakeside completed a private placement of units for gross proceeds of $10 million. Each Unit is comprised of one common share in the capital of Lakeside and one-half of one common share purchase warrant. The Units were sold on a private placement basis by a syndicate of agents led by Northern Securities Inc. Lakeside was advised in this transaction by Fasken Martineau with a team that included Sean Stevens and Karoline Kralka (corporate/securities), assisted by student at law Amanda Fullerton and paralegal Magdalena Chmurzewski.

Team

    Subscribe

    Receive email updates from our team

    Subscribe