London, February 2019
Alpha Blue Ocean, an investment management firm with its headquarters in London, UK, has been advised by Norton Rose Fulbright on its investment of up to C$20m of senior unsecured convertible debentures and accompanying warrants of Wayland Group Corp.
Wayland is a cultivator and processor of cannabis with its headquarters in Ontario, Canada.
European High Growth Opportunities Securitization Fund (EHGO), which is managed by Alpha and registered in Luxembourg, committed to subscribe the Wayland debentures on or before February 20, 2020, in a structured finance transaction that was customized to meet both EHGO’s investment objectives and Wayland’s financing needs.
Pierre Vannineuse, Founder & CEO of Alpha Blue Ocean, declared:
“Working with Norton Rose Fulbright, more specifically, with Walied Soliman, was crucial for this investment. With his expertise in complex financial strategies, he and his team were able to advise us on the right approach of entering a new market. Together with the support of Evelyn Li, Trevor Zeyl, and Cynthia Sargeant, ABO has now confidently entered into the cannabis industry and we could not be any happier to have selected Wayland as a long-term investment to our portfolio.”
Norton Rose Fulbright’s global and Canadian chair, partner Walied Soliman, commented:
“We are delighted to have assisted Alpha Blue Ocean with this structured financing and we hope to see many more in Canada in the near future. This was an excellent example of investors and issuers working collaboratively to come up with an investment vehicle that suits both of their needs. Such structured financings also provide greater flexibility for the parties to negotiate and customize a deal that achieves their respective objectives than the more typical financings of equity or debt securities.”
The debentures, which are issuable in up to five tranches of C$4m each, are non-interest bearing and mature on the 12-month anniversary of their issuance date.
Alpha Blue Ocean was founded by Pierre Vannineuse and is the investment manager to a family of funds operating across multiple jurisdictions. ABO specialises in debt and equity financing to publicly listed companies across the world and in a variety of sectors including healthcare, energy, mining, and technology. Its main representation office is based in London, UK.
About Norton Rose Fulbright
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