Vicwest Inc. Announces Closing of Bought Deal Offering
/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES/
OAKVILLE, ON, Dec. 4, 2013 /CNW/ - Vicwest Inc. (the "Company") (TSX: VIC, VIC.DB, VIC.DB.A) is pleased to announce that it has completed its offering of $30,000,000 aggregate principal amount of 5.25% convertible unsecured subordinated debentures at a price of $1,000 per convertible debenture (the "Offering"). The convertible debentures are listed and posted for trading on the Toronto Stock Exchange under the trading symbol "VIC.DB.A".
The Offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters co-led by National Bank Financial Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc. and including AltaCorp Capital Inc., Cormark Securities Inc., GMP Securities L.P. and HSBC Securities (Canada) Inc. As previously announced, the Company intends to use the net proceeds from the Offering to reduce indebtedness, for future acquisitions and for general corporate purposes.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The convertible debentures have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
ABOUT VICWEST INC.
Vicwest Inc. is a leading manufacturer and distributor of engineered storage and handling systems for grain, fertilizer and liquid storage as well as building construction products for agriculture, commercial, industrial and residential markets. We operate through two strategically aligned divisions: Vicwest Building Products and Westeel. With approximately 7,000 customers, 1,200 dedicated employees and 34 business partners, we are positioned for growth in domestic and international markets. Vicwest Inc. is a member of the S&P/TSX SmallCap Index. For more information, visit www.vicwestinc.com.
Certain statements in this news release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements may include comments with respect to the Company's objectives, strategies to achieve those objectives, potential acquisitions, expected financial results, the outlook for the business of the Company and the Company's expected use of proceeds from the Offering. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Readers are encouraged to review the (final) short form prospectus of the Company dated November 27, 2013 filed in connection with the Offering, the most recently filed Management's Discussion and Analysis and other disclosure documents filed by the Company with Canadian securities regulatory agencies and commissions. Readers are cautioned not to place undue reliance on the Company's forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release and except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Vicwest Inc.For further information:
President & Chief Executive Officer
Tel: (905) 469-5700