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Transaction/Case Details

Vector Resources Inc. and Razor Energy Corp. announce completion of reverse takeover transaction

DATE CLOSED

January 31, 2017

BUSINESS SECTOR

Oil & Gas

LEAD OFFICE

Calgary


OVERVIEW

On January 31, 2017, Vector Resources Inc. ("Vector")  and Razor Energy Corp. ("Razor" or the "Company") announced the completion of their previously announced business combination which constituted Vector's qualifying transaction (the "Qualifying Transaction") pursuant to the policies of the TSX Venture Exchange.

Subsequent to the completion of the Qualifying Transaction, Vector also completed (i) the change in name of Vector to "Razor Energy Corp."; and (ii) the consolidation of the common shares of Vector ("Vector Shares") on the basis of one post-consolidation Vector Share for every 20 pre-consolidation Vector Shares.

In connection with Acquisition, Alberta Investment Management Corporation ("AIMCo"), one of Canada's largest and most diversified institutional investment managers and operates at arms-length from the Government of Alberta, on behalf of certain of its clients, entered into a strategic financing relationship with Razor. Pursuant to the terms of the transaction, AIMCo has committed to Razor a non-revolving term loan facility (the "Facility"), for a principal amount of $30.0 million on a four-year term, with an interest rate of 10% payable semi-annually. In addition, in consideration of AIMCo providing the Facility to Razor, Razor issued to AIMCo approximately 10.05% of the outstanding common shares of Razor.

Razor is a publicly-traded junior oil and gas development and production company headquartered in Calgary, Alberta. The Company's efforts are concentrated on acquiring, and subsequently enhancing, producing oil and gas properties primarily in Alberta.

McCarthy Tétrault LLP advised Razor Energy Corp. with a team led by Sony Gill that included Craig Spurn, Hass Keshavji,  Scott Bergen, Nathan Montgomery, and Ben Layton.

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