TransactionsSprott Power Corp. and First Asset PowerGen Fund Complete MergerPublished: 02/03/2011 By Colin Ground, Jennifer Hansen, Alexandra Iliopoulos, Michael Noonan, Ken Snider, Janice Vohrah, Luke Woolford On January 31, 2011, the business combination between Sprott Power Corp. ("Sprott Power") and First Asset PowerGen Fund (the "Fund") was completed via a plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, Sprott Power and a wholly-owned subsidiary of the Fund amalgamated to form a new company called "Sprott Power Corp." ("New Sprott Power") and the Fund was dissolved. Unitholders of the Fund received 5.35402342 New Sprott Power common shares ("New SPC Shares") for each unit of the Fund held and Sprott Power shareholders ("SPC Shareholders") received one New SPC Share for each Sprott Power common share ("SPC Share") held. All warrants of Sprott Power were exchanged for warrants of New Sprott Power and all options of Sprott Power were exchanged for options of New Sprott Power, on the same basis as the SPC Shares. The New SPC Shares are listed under the symbol "SPZ" on the Toronto Stock Exchange. CIBC World Markets Inc. acted as exclusive financial advisor to the Fund in connection with the Arrangement. Cassels Brock acted for Sprott Power with a team that included Alex Iliopoulos (M&A and Securities), Jason MacIntosh (M&A and Securities), Michael Noonan (Securities), Jennifer Hansen (Securities), Ken Snider (Tax), Janice Vohrah (Tax), Colin Ground (Business Law) and Luke Woolford (Business Law). |