Arcan Resources Ltd. Completes $171.25 Million Debt for Equity Exchange
|Areas||Corporate Finance and Securities, Corporate Restructuring, Mining and Natural Resources, Tax|
Goodmans represented the ad hoc committee of debentureholders in connection with the completion by Arcan Resources Ltd. (Arcan) of an exchange of its $171.25 million convertible unsecured subordinated debentures into common shares of Arcan. The exchange was approved at a meeting of its debentureholders and was structured as the result of a transaction settled between Arcan and the ad hoc committee of debentureholders.
Arcan is a corporation headquartered in Calgary, Alberta and principally engaged in the exploration, development and acquisition of oil and natural gas in western Canada.