Alberta Investment Management Corporation entered into an agreement to acquire 70% interest in FutEra Power Corporation from Razor Energy Corp. for $63.2 million on May 1, 2023. Razor will dispose of 70% of its common share holdings in FutEra Power Corp. and 100% of a class of newly created voting, convertible preferred shares in FutEra to settle $63.2 million of secured debt with Alberta Investment Management Corporation, on behalf of certain designated entities managed and advised by AIMCo. Razor will retain a 30% common share position in FutEra. No Razor Common Shares will be issued as part of the Debt Settlement. FutEra will be responsible for repayment of US$7.9 million of Razor?s current senior secured debt owed to Arena Investors, LP under Razor?s Amended and Restated Term Loan Agreement dated March 9, 2022. Echelon Wealth Partners Inc. acted financial advisor and fairness opinion provider to Razor. Scott Robertson, Gregory Saksida, Mark Pearson and Omid Eslam of Stifel acted as financial advisors to Alberta Investment Management Corporation. The expected closing date of the Transaction is June 12, 2023.

Alberta Investment Management Corporation completed the acquisition of 70% interest in FutEra Power Corporation from Razor Energy Corp. on June 19, 2023.