Overview

Return of Capital

Overview

Overview

Under a BC Plan of Arrangement, Coventry is to transfer most of its subsidiaries (the "Targets") to Western Rift (a subsidiary of Chalice) in consideration for Chalice shares, which Coventry will then transfer to its shareholders as a stated capital distribution. The Arrangement is expected to result in the Coventry shareholders holding 15.46% of the Chalice shares, and in Coventry holding only cash and a project in Alaska.

See detailed summary under Cross-Border Acquisitions – Inbound – Asset sale/share distribution.

Overview

With a view to all the common shareholders of ISG becoming the unitholders of the Trust, which is expected to be a REIT, ISG will sell its sole real estate asset and then, under a CBCA Plan of Arrangement, each ISG common shareholder will have the option of redeeming its shares for cash or for units of the Trust, so that following the Plan of Arrangement, ISG will be wholly-owned by the Trust.

Overview

Plan of arrangement

The circular contemplates the spin-off by Abbastar of four newly-formed junior mining companies, via., Anacott, Brunello, Sparz and Teldar. Under a B.C. plan of arrangement, Abbastar transfers the respective assets to Anacott, Brunello, Sparz and Teldar (the "Newcos") in consideration for preferred shares of the Newcos, which then are converted into common shares, with the common shares of the Newcos being distributed to Abbastar's shareholders as a reduction of paid-up capital. Option to acquire Abbastar shares become options to acquire Newco shares.

Overview

The Trust will sell all or substantially all its assets at the end of 2014, being oil and gas assets held indirectly by it, and distribute the remaining cash in at least two distributions in 2015 after settling liabilities.

The Trust

An Alberta unit trust trading on the TSXV which was established in June 2012 as a cross border energy trust (holding U.S. oil and gas assets through U.S. subsidiaries) and which has incurred losses.

For a summary of the 2009 transactions challenged by CRA, see under Other – Loss Utilizations.

Overview

The Corporation (an Alberta corporation listed on the NEX Board of the TSXV) sold substantially all its assets to Shoppers Drug Mart Inc. on May 22, 2012 for gross proceeds of $73.5M, and has or will distribute the net proceeds in three tranches: a stated capital distribution; a distribution that will only partly be a stated capital distribution; and a distribution pursuant to liquidation proceedings.