INTRODUCTION NOVEMBER 2016 bordeauxcapital.com
INTRODUCTION Bordeaux Capital Inc. (BCI) is an Exempt Market Dealer based in Toronto, Canada. The firm was formed in October 2015. BCI s principals have a combined 50+ years of experience generating financing solutions and providing M&A services to corporate clients. BCI specializes in finding capital solutions for public and private corporations, with a particular focus on raising debt financing. We are focused entirely on accomplishing our clients objectives. We pride ourselves on delivering high quality, conflict-free services and advice. The principals of BCI have deep relationships with substantial providers of institutional capital. We employ these relationships to the benefit of our clients in Canada and beyond. 2
PRINCIPALS Jaret Anderson, CFA Jaret is a co-founder and Principal of Bordeaux Capital. He has over 15 years experience as a sell-side equity analyst covering both large and small cap companies in the basic materials space. He brings the benefit of having worked both on the sell side and in a senior management role at a TSX-listed greenfield potash company with assets in Brazil. He spent seven years at UBS Securities Canada covering large cap forest product, fertilizer, chemical and gold names, and also covered small and mid cap fertilizer names at two boutique brokerages in Canada. Jaret was the #1 ranked Analyst for earnings estimate accuracy in the paper and forest sector in the Starmine 2006 report and was ranked #2 for quality of written reports in the paper and forest sector in Brendan Wood s (2005). He earned his Bachelor of Commerce, with Honours, from the University of British Columbia in 1997 and has been a CFA charterholder since 2000. 3
PRINCIPALS P. Gage Jull, P.Eng., CFA Gage is a co-founder and Principal of Bordeaux Capital. He has over two decades of experience in corporate finance covering the oil and gas, fertilizer and agriculture, mining, technology and industrial sectors. Gage has acted as lead underwriter on numerous cross border equity and debt offerings involving assets around the world with capital sourced in Canada, the U.S. and the U.K. His experience in finding demand and leading financing transactions in several jurisdictions has been a key element in completing significant financings for his clients in Canada, the UK and the U.S. He has completed over 200 such financings and M&A transactions in the course of his career. In addition, Gage has been an expert witness preparing independent reports and testifying before the courts in North America and London (UK). He has worked at several international firms including Merrill Lynch (New York and Canada) and Prudential Bache (New York and Canada) as well as several Canadian domestic firms including: Mackie Research Capital, Burns Fry, and Taurus Capital. Gage holds a B.Sc. degree from the University of Toronto, an MBA from the University of Western Ontario, and holds both P.Eng. and CFA designations. 4
PRINCIPALS Max Satel, B.Comm. Max is a co-founder and Principal of Bordeaux Capital. He worked on over 120 transactions led or co-led at his former firm, Mackie Research Capital from April 2005 to September 2015, with the majority of his clients active in the mining, energy or industrial sectors. His focus is on assisting small-to-mid cap companies realize their M&A and capital objectives utilizing a variety of structures, and through numerous corporate and investor relationships in North America and Europe. Prior to joining Mackie Research Capital, Max worked in the Institutional Equity Research Group at CIBC World Markets, helping to provide research coverage on pharmaceutical, clean technology and income trust stocks. Max holds a B. Comm. degree from the University of Toronto and has passed the Partners, Director & Officers examination. 5
SECTORS WE SERVICE Metals & Mining Upstream Oil & Gas Agriculture & Fertilizers Forestry Diversified Industries Infrastructure 6
TRANSACTION EXPERIENCE OF BORDEAUX CAPITAL AND ITS PRINCIPALS Private Chemical Co. African Oil & Gas Co. Brazilian Potash Co. Canadian Mining Co. Argentina Oil & Gas Co. US$85 million Acted as advisor on the sale of a private chemical company to a European private equity group Substantial issuer bid Advisor to the special committee of the board in its evaluation of a Substantial Issuer Bid C$29 million Bought-deal equity financing US$50 million Senior secured debt for last mile project financing provided by major Canadian pension fund US$150+ million Total raised in equity financings to advance oil & gas and potash projects 2016 2015 2012 2015 2010-14 African Oil & Gas Co. North Sea Oil & Gas Co. North Energy Sea Reseller Oil & Gas Co. Co. German Utility Co. International Oil Co. Substantial issuer bid Advisor to the special committee of the board in its evaluation of a Substantial Issuer Bid C$366 million Total raised in equity financings to put North Sea assets into production US$150 C$366 million Convertible Total raised Eurobond in equity to financings refinance to upcoming put North debt Sea assets maturities into production Expert trial witness Provided defence testimony on valuation/markets in connection with lawsuit Expert trial witness Provided defence testimony on valuation/markets in connection with US$1.6 Bn lawsuit 2012 2006-10 2006-10 2014 2014 2013 Note: The Private Chemical Co. and African Oil & Gas Co. (2015) transactions were completed by Bordeaux Capital Inc. The other transactions listed above were executed by the principals of Bordeaux Capital while operating at other dealers over the past several years. 7
WHY CHOOSE BORDEAUX CAPITAL? Focused on executing financing and M&A transactions that are transformational for our clients and their shareholders Ability to secure capital from leading institutional investors including pension funds, convertible bond funds, mezzanine/structured debt funds, private equity, royalty & streaming firms, and commodity traders, among others Relationships with key decision-makers at the aforementioned investors Deep understanding of investor criteria, preferences/processes, and return requirements The experience to close the bid-ask spread in negotiating transactions Significant deal experience, and knowledge across multiple sectors Generally lower fees (compared to full-service broker-dealers) and flexible on fee structure 8
CONTACTS Jaret Anderson, CFA Principal P. Gage Jull, P.Eng., CFA Principal Max Satel, B.Comm. Principal T: (416) 504-4418 x. 101 T: (416) 504-4418 x. 102 T: (416) 504-4418 x. 103 C: (647) 244-4468 C: (416) 562-7525 C: (416) 904-2258 E: ja@bordeauxcapital.com E: gj@bordeauxcapital.com E: ms@bordeauxcapital.com 9
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