5 December 2018
Gernandt & Danielsson advises International Petroleum Corporation in connection with its acquisition of BlackPearl Resources Inc. through a plan of arrangement
Gernandt & Danielsson advises International Petroleum Corporation ("IPC") in connection with its acquisition of BlackPearl Resources Inc. ("BlackPearl") through a plan of arrangement.
On October 10, 2018, IPC announced that it had entered into an agreement with BlackPearl under which IPC will acquire all of the shares of BlackPearl based upon a share exchange ratio of 0.22 shares of IPC for each BlackPearl share. The acquisition remains subject to shareholder approvals of both IPC and BlackPearl and certain regulatory approvals, with completion expected in mid-December 2018. On November 28, 2018, IPC's prospectus for the proposed issuance of new common shares of IPC to the securityholders of BlackPearl was published by IPC.
Gernandt & Danielsson's team consists of Partner Carl Westerberg and Senior Associate Erika Olofsson.