On March 12, 2018, NextView New Energy Lion Hong Kong Ltd. (NextView) completed its acquisition of Lithium X Energy Corp. (Lithium X), by way of a plan of arrangement under the Business Corporations Act (British Columbia), whereby all of the issued and outstanding common shares and common share purchase warrants of Lithium X were acquired by NextView’s wholly owned British Columbia subsidiary, NNEL Holding Corp., for $265 million. The transaction involved a cash payment to shareholders of $2.61 per share, representing a 29-per-cent premium to the 20-day VWAP of the common shares.
NextView was represented by Steven McKoen, Evan Griffith, Zaichi Hu, Mona Yousif (corporate) and Alexandra Luchenko (litigation) of Blake, Cassels & Graydon LLP.
Lithium X was represented by John Anderson, Vanessa Johnson, Terry Grazier, Brandon Piva (corporate), Jonathan Buysen (litigation) and Julie D’Avignon and Jean-Guillaume Shooner (tax) of Stikeman Elliott LLP.
