Reorganizations
During 2003, Kinnear Financial acquired a significant stake in
UTS. In
2004, Kinnear Financial participated in several UTS financings at a
crucial time of low commodity prices and a lack of interest in the
marketplace. Kinnear Financial was instrumental in developing a plan to
attract investment for UTS’ Fort Hills oil sands mining project. Through
a series of transactions, UTS acquired 100 percent control of the
project and subsequently reduced its commitments to finance the
project’s development. Petro-Canada and Teck Cominco Limited became
co-investors, with Petro-Canada the lead partner and operator.
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During 2001 and 2002, Kinnear Financial invested in
Denison Mines, a
distressed company with interests in energy and mining. After acquiring
a significant share holding, Kinnear Financial was instrumental in
formulating a strategy that led to Denison’s share consolidation and
reorganization. This facilitated transforming Denison into a successful
growth-oriented, intermediate uranium producer competing in the world
market.
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Study