Kelt Exploration Ltd. completes the acquisition of Artek Exploration Ltd. to consolidate its British Columbia Montney and Doig assets

Date closed: 4/16/2015

Value: $320 million

On April 16, 2015, Kelt Exploration Ltd. completed the acquisition of Artek Exploration Ltd. for approximately $320 million in accordance with a previously announced Plan of Arrangement, pursuant to which Kelt acquired all of the issued and outstanding common shares of Artek.

Under the Arrangement, the Artek Shareholders received 0.34 of a common share of Kelt for each Artek Share held. As a result of the Arrangement, an aggregate of 26.9 million Kelt Shares were issued to the former Artek Shareholders.

Kelt, headquartered in Calgary, Alberta in a oil and gas company.

BLG represented Kelt with a team led by William C. Guinan that included Louise Lee, Michael Saliken, Ravi Latour, Jean-Philippe Couture (Tax), Laurie Robson (Employment) and Colin MacDonald (Competition).