On August 30, 2024, Stonebriar Commercial Finance Canada Inc. provided a $40 million loan to Heavy Metal Equipment & Rentals (“HME”) secured by a leasehold mortgage on HME’s maintenance facility and the assets located on the property. As the maintenance facility is located on Indigenous land, Stonebriar’s real property security was provided pursuant to authorization from the First Nations Band Council. The proceeds of the loan will be applied to, among other things, the construction and development of the HME maintenance facility.
Cassels acted as Canadian counsel to Stonebriar.