Canadian merchant bank Cairn Merchant Partners has taken an equity interest in All in West! Capital Corp (TSX Venture: ALW), an acquirer and developer of hotels and independent living senior’s residences in Western Canada. The deal, the value of which was not disclosed, involved securities previously owned by Tribal Council Investment Group of Manitoba Ltd. The acquisition was made on behalf of Cairn by affiliate Roper Capital Corp and upon closing will give Cairn approximately 11.6 percent of the outstanding common shares of the Winnipeg-based company.
Cairn Merchant Partners LP Announces Equity Interest in All in West! Capital Corporation
TORONTO, ONTARIO–(Marketwired – Jan. 23, 2015) – Cairn Merchant PartnersCairn Merchant Partners LP (“Cairn”) has acquired all of the securities of All in West! Capital Corporation (“AIW”) that Tribal Council Investment Group of Manitoba Ltd. (“TCIG”) beneficially owned (the “AIW Securities”) through its wholly-owned subsidiary First Nations Financial Services Inc. (the “Transaction”). The acquisition of the AIW Securities was completed by Roper Capital Corporation, a wholly-owned investment holding company of one of Cairn’s managing partners.
The AIW Securities are comprised of the following:
2.0 million common shares;
$1.0 million principal value of Series A Subordinated 8% Convertible Debentures; and
$0.6 million principal value of Series C Senior Subordinated 8% Convertible Debentures.
Upon closing of the Transaction, Cairn will own approximately 11.6% of the outstanding common shares of the Company. Cairn understands that there are no AIW common shares underlying the convertible debentures as the right to convert the debentures existed any time up to five business days prior to the maturity date of each debenture and all maturity dates have lapsed.
The securities are being acquired for investment purposes. Cairn may from time to time, depending on market and other conditions, acquire additional securities or related financial instruments of AIW, dispose of some or all of its holdings in AIW through market transactions, private agreements or otherwise, or continue to hold such investments.
Additional information is provided in the early warning report filed on www.sedar.com.
To obtain a copy of the early warning report, contact:
Cairn Merchant Partners LP
101 College Street, Suite HL30A
Attention: Bryden Richardson, Managing Partner
ATTENTION: BRYDEN RICHARDSON
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