Marret Resource Corp. Completes $25 Million Subscription Receipt Financing

June 27, 2018

Marret Resource Corp. (TSX:MAR) completed the first tranche of a private placement of an aggregate of 45,817,828 subscription receipts for gross proceeds of approximately $25 million.  The offering was led by GMP Securities L.P. and was completed in connection with a proposed transaction by Marret to be completed by way of a statutory plan of arrangement pursuant to the Business Corporations Act (Ontario) (the “Arrangement”). Pursuant to the Arrangement, each subscription receipt will be automatically converted into one common share of Marret.

Upon completion of the Arrangement, Marret’s investment strategy will change from its current focus on natural resource lending to a broader lending-oriented credit platform that will initially make an investment in a primarily U.S. based loan portfolio managed by the principals of BC Partners Credit, a credit platform affiliated with BC Partners Advisors L.P. (“BCP”). BCP is a leading international investment firm with over $27 billion of assets under management in private equity and private credit.

Wildeboer Dellelce LLP acted for BCP in connection with the offering with a team that consisted of Perry Dellelce, Rob Wortzman, Sanjeev Patel, Patricia Good and Joel Fraser (corporate/securities) and Katy Pitch (tax).