February 13, 2015

Arcan Resources Ltd. Completes $171.25 Million Debt for Equity Exchange

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.

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Arcan Resources Ltd. Completes $171.25 Million Debt for Equity Exchange

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