Client Alert

Canada Deal Update

July 2009

Chadbourne & Parke LLP, a New York-based international law firm, offers sophisticated legal counsel to Canadian companies and private funds conducting cross-border business to the United States and around the globe, with particular strength in emerging markets, energy, alternative energy, infrastructure and mining.

To help keep companies and funds apprised of current cross-border M&A and private equity deals that are Canada outbound and inbound, we have begun to track significant transactions in the regions where Chadbourne & Parke has offices and/or active practices. Chadbourne offers local law capability in the United States through our New York, Washington and Los Angeles offices and internationally in our Mexico City, London, Moscow, St. Petersburg, Warsaw, Kyiv, Almaty, Dubai and Beijing offices.

To learn more about what Chadbourne can do to serve your Canada outbound needs, please contact the head of our Canada practice, Jonathan Melmed, at +1 (212) 408-1002 or . 

Read about past Canada deals: 
April 2009 Canada Deal Update
January 2009 Canada Deal Update
October 2008 Canada Deal Update
July 2008 Canada Deal Update
April 2008 Canada Deal Update
March 2008 Canada Deal Update

Canada into the United States

• Sparrowtech Resources of Ontario acquired Eagle Nest Mining Property located in Arizona from US-based D.A.R. Mining. The financial terms of the transaction were not disclosed (06/23/09). Quebec-based LSR Group acquired Arbour Oaks Apartments in Florida for US$40 million (06/04/09).
• California-based Jamba Inc. has raised $35 million in funding from the sale of convertible stock, including a US$15.4 million investment from a company controlled by the Serruyas family of Canada (06/03/09).
• Intelimax Media Inc. of British Columbia merged with US-based shell company Cicero Resources Corp after raising an undisclosed amount through a private placement of common stock (06/01/09).
• Research In Motion Ltd. of Ontario acquired Dash Navigation Inc. of California. The financial terms of the transaction were not disclosed (05/06/09).
• KOREM of Quebec acquired Primus Geographics Inc. of Colorado. The financial terms of the transaction were not disclosed (04/14/09).
• Constellation Software, Inc. of Ontario through its wholly owned subsidiary Computrition, Inc., has acquired Common CENTS(R) Solutions, Inc. of Mississippi. The financial terms of the transaction were not disclosed (04/01/09).
• Ontario-based Agnico-Eagle Mines Limited acquired 1,000,000 units of U.S.-based AuEx Ventures Inc. by way of a private placement. The financial terms of the transaction were not disclosed. (03/11/09).

United States into Canada

• California-based communications chip maker Integrated Device Technology Inc. acquired Ontario-based Tundra Semiconductor Corp. for CDN$120.8 million (06/29/09).
• Florida-based Harris Corporation, an international communications and information technology company, acquired the Air Traffic Control (ATC) business unit of SolaCom Technologies, Inc., a company headquartered in Quebec. The financial terms of the transaction were not disclosed (06/19/09).
• California-based semiconductor company Exar Corporation acquired Ontario-based fables semiconductor company Galazar Networks. The financial terms of the transaction were not disclosed (06/17/09).
• New York-based Electrum Strategic Holdings LLC acquired 9,307,564 common shares of Gabriel Resources Ltd. of Ontario for US$20,940,019 (06/03/09).
• Archway Marketing Services, of Minnesota acquired the supply chain management division of Canadian Resolve Business Outsourcing Income Fund of Ontario. The financial terms of the transaction were not disclosed (05/27/09).
• Nevada-based MonArc Corporation acquired H&T Processing Ltd of Saskatchewan in a share exchange agreement. The sale was completed on an all-stock basis (05/22/09).
• I Love Rewards of Ontario has secured CDN$6.9 million in Series B funding from Grandbanks Capital of Massachusetts (05/18/09).
• Averna of Quebec acquired DAQTron Inc. of Georgia. The financial terms of the transaction were not disclosed (05/06/09).
• Electrum Strategic Metals LLC of New York acquired 7,714,286 units of Mantra Mining Inc. of British Columbia. The financial terms of the transaction were not disclosed (05/06/09).
• Polar Ray-O-Max Windows of Manitoba was acquired by private equity firm Riverside Company of New York completing its acquisition of Polar Window of Canada Ltd. The financial terms of the transaction were not disclosed (04/30/09).
• Integrated Device Technology Inc. of California will acquire Tundra Semiconductor Corporation of Ontario for approximately CDN$120.8 million (04/30/09).
• Alethia Biotherapeutics, Inc. of Quebec secured Series A financing from Epicentre Technologies Corporation of Wisconsin. The financial terms of the transaction were not disclosed (04/23/09).
• Haemonetics Corporation of Massachusetts acquired Neoteric Technology Ltd. of British Columbia. The financial terms of the transaction were not disclosed (04/16/09).
• Teradici of British Columbia announced $17 million in new Series C funding from a number of venture capital funds, including California-based Alloy Ventures (04/08/09).
• Author Solutions of Indiana acquired Trafford Publishing of British Columbia from Trafford Holdings Ltd. The financial terms of the transaction were not disclosed (04/06/09).
• OneChip Photonics of Ontario secured CDN$19.5 million in financing from U.S. and Canadian investors, including Morgenthaler Ventures of California (04/01/09).
• British Columbia-based telecom startup Zeugma Systems Inc. raised US$22.5 million in a second round of funding led by New York-based Vertex Venture Capital to complete testing and launch commercial sales of carrier equipment for high-speed broadband networks. (3/18/09).
• AmerisourceBergen Corp. of Pennsylvania acquired Innomar Strategies Inc. of Ontario for approximately US$13.8 million, subject to a working capital adjustment (02/06/09).

Canada into Emerging Markets

• Canadian-Swiss oil and gas producer Addax Petroleum Corp. will be acquired by Chinese national oil company Sinopec for CDN$8.3 billion pending shareholder approval (06/24/09).
• ICS Copper Systems Ltd. of British Columbia acquired a 49% equity position in Luapula Mineral Ltd. of Zambia. The financial terms of the transaction were not disclosed (05/21/09).
• SNC-Lavalin of Quebec acquired consulting engineering firm VST Ingenieros Ltda of Santiago, Chile. The financial terms of the transaction were not disclosed (04/24/09).

Keep Us Informed

Upon closing of Canada-inbound and -outbound transactions, please notify us at for deal tracking purposes.