Carmanah Technologies Corporation (Carmanah) entered into an arrangement agreement with CMH, JDM Investment Holdings Inc. and TMH Capital Limited Partnership, pursuant to which CMH acquired all of the issued and outstanding common shares in the capital of Carmanah it did not already own, pursuant to a plan of arrangement under Part 9, Division 5 of the Business Corporations Act (British Columbia) (the “Arrangement”). CMH obtained a bridge loan from CIBC to finance the transactions and to pay related fees and expenses. Amounts borrowed were repaid on the Closing Date.
Upon completion of the Arrangement, Carmanah de-listed its common shares from the Toronto Stock Exchange and ceased to be a reporting issuer under applicable Canadian securities laws.
Fasken Vancouver advised CMH with a team led by Blair Horn (M&A), Sam Li (M&A), Mike Coburn (Tax), KC Miu (Corporate/Commercial), Myriam Gonzalez (M&A), Gavin Cameron (Litigation) and Rachel Schechter (Litigation).