On July 5, 2016, North American Lithium Inc. completed its acquisition of substantially all of the assets of a Lithium Project located in the municipality of La Corne, Québec, as well as certain other assets, from KSV Kofman Inc., in its capacity as court-appointed receiver of Québec Lithium Inc., RB Energy Inc. and Sirocco Mining Inc. The Lithium Project was formally owned by Quebec Lithium Inc., a subsidiary of RB Energy Inc., a TSX-listed corporation which went into receivership. The acquisition was financed in part by funding provided by Investissement Québec. North American Lithium Inc. is an indirect wholly owned subsidiary of Jilin Jien Nickel Industry Co., Ltd., a leading Chinese mining company listed on the Shanghai stock exchange.
North American Lithium Inc. was represented by Aust Legal Inc., with a team comprised of Thomas Laporte Aust and Andrew Johnston (mergers and acquisitions). Stikeman Elliott LLP also acted as counsel to North American Lithium Inc., with a team comprised of Maxime Turcotte, Maxime Charbonneau, Olivier Godbout and Julien Robitaille-Rodriguez (mergers and acquisitions), Jean Fontaine and Nathalie Nouvet (insolvency), Stefan Fews and Josée Lefebvre (real estate), David Massé (mining), Michael Kilby and William Wu (regulatory), Myriam Fortin (environment), Stephanie Weschler and Stephanie Pasternyk (employment) and Maxime Jacquin (finance).
KSV Kofman Inc. was represented by Osler, Hoskin & Harcourt LLP, with a team comprised of Martin Desrosiers, Julien Morissette and Julien Hynes-Gagné (insolvency and restructuring), Antonella Penta and Alexandre Martin (corporate), Jennifer Fairfax (environment), Shuli Rodal (regulatory), Antoine Stébenne (tax) and Constantine Troulis and Nicole Cloutier (financing).