2010
McNair Creek Hydro-electric Generation Facility
Acquisition and Reorganization
In April 2010, we acted as counsel to an acquisition vehicle (“AcquireCo”) in respect of its acquisition of the McNair Creek Project (the “Project”), an operating 9.8 MW run-of-river hydro-electricity generation facility located on the BC Sunshine Coast, for the acquisition cost of approximately $17 million paid partly in cash and partly by assumption of liabilities. AcquireCo is owned by Pacific Northern Gas Ltd., a public company in the business of owning and operating natural gas transmission and distribution systems, the shares of which are listed on the Toronto Stock Exchange, and by Skookum Power Corp., a renewable energy company focused on near term hydro-electricity generation acquisitions. We currently act as counsel for the AcquireCo in the corporate reorganization of the Project and amendments to the assumed secured term loan facility.