MLT Aikins recently acted for Expander Energy Inc. in its disposition of Bio-Syndiesel™ assets to Cielo Waste Solutions Corp. (TSXV:CMC) for $45.3 million.
Expander also granted licenses to Cielo to exploit Expander’s Bio-Syndiesel™ technologies in Canada and the United States. With Expander’s assistance, these Bio-Syndiesel™ technologies and assets will enable Cielo to construct and operate facilities that convert biomass into synthetic diesel fuel.
Cielo plans to construct and operate four facilities in Canada and two facilities in the United States and has engaged Expander and its affiliates to provide services to Cielo for the engineering, procurement, construction and project management phases of the six facilities.
Cielo satisfied the purchase price for the Bio-Syndiesel™ assets by issuing shares to Expander and its shareholders. In total, these shares represent approximately 49.9% of the issued and outstanding Cielo shares on a non-diluted basis. In addition, Cielo agreed to nominate three Expander candidates for election to the Cielo board.
Adam Rock, Michael Ziesmann and Sheldon McDonald advised Expander in this transaction.
The lawyers at MLT Aikins have been involved in many significant transactions throughout North America and Europe and have experience advising clients in a wide range of industries. Contact our mergers & acquisitions team to learn more.