Whitebox Advisors acquires Adanac Molybdenum

On December 15, 2015, WBOX 2015-4 Ltd. (WBOX), a subsidiary of Whitebox Advisors, LLC, and Adanac Molybdenum Corporation (Adanac) completed an arrangement (the Arrangement) under the Business Corporations Act (British Columbia). Adanac, a British Columbia corporation, owns the Ruby Creek Project, a molybdenum property located in northern British Columbia. Pursuant to the Arrangement, WBOX acquired all of the shares of Adanac not already owned by affiliates of WBOX. Immediately prior to the acquisition, Adanac distributed $4,275,000 in cash to its shareholders as a return of capital. Fasken Martineau advised WBOX with a team that included Aaron Atkinson, Bradley Freelan and David Steinhauer (Corporate/M&A) and Mitchell Thaw (Tax).