Capital Canada Limited Announces the Completion of the Great Slave Helicopters Ltd. Sale and Investment Solicitation Process

On November 23, 2018, the Ontario Superior Court of Justice approved the sale of substantially all of the assets of Great Slave Helicopters Ltd. (“GSH”) to 11088211 Canada Corp. (“211”), a company controlled by Patrick Campling Jr., a founder and former owner of Transwest Air. Mr. Campling is an individual with significant experience in the Canadian aviation industry. GSH was acquired as a going-concern and the approved transaction will preserve jobs and allow GSH to continue to service its customers.

On September 4, 2018, the Ontario Superior Court of Justice granted protection under the Companies’ Creditors Arrangement Act (“CCAA”) to GSH. On September 14, 2018, KSV commenced the sale and investment solicitation process (“SISP”) for GSH’s business and assets.

Given Capital Canada’s prior involvement with GSH, its dealing with prospective going-concern purchasers and its substantial expertise in the aviation section, on September 28, 2018, KSV, in consultation with GSH’s principal secured creditor, Clairvest Group Inc. (“Clairvest”), engaged Capital Canada to assist it to carry out the SISP. KSV and Capital Canada worked together closely throughout the SISP. Capital Canada’s involvement was focused on pursuing going-concern transactions, including to continue its prior dealings with certain prospective purchasers.

“Capital Canada’s experience in the aviation industry was of significant assistance in generating a successful outcome for the SISP” noted David Sieradzki, Managing Director of KSV.

About KSV

KSV Advisory Inc. is a boutique consulting firm providing advisory and restructuring services to distressed North American companies and their stakeholders. For more information, visit www.ksvadvisory.com.

About Capital Canada Limited

Established in 1975, Capital Canada Limited is a mid-market independent investment banking firm which provides expert, financial advice to corporations and entrepreneurs in Canada and abroad. Capital Canada’s focus is in the private capital markets, providing investment banking services including mergers and acquisitions, private placements, financial restructuring, and general financial advisory services including fairness opinions. Capital Canada’s dedicated professionals provide hands-on, personalized attention in order to achieve the optimal outcome for the client. For more information, visit www.capitalcanada.com.