Alliance Grain Traders Inc. and The Carme Trust close $28,050,000 bought deal secondary offering
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
REGINA, Jan. 2, 2014 /CNW/ - Alliance Grain Traders Inc. ("AGT" or the "Company") (TSX:AGT) and The Carme Trust (the "Selling Shareholder") announced today the completion of the sale of 1,870,000 common shares (the "Common Shares") of the Company by the Selling Shareholder, which included the sale of 170,000 Common Shares pursuant to the full exercise of the over-allotment option granted by the Selling Shareholder to the Underwriters, for gross proceeds to the Selling Shareholder of $28,050,000 (the "Offering"). The Company will not receive any proceeds from the Offering.
The previously announced Offering was completed on a bought deal basis by an underwriting syndicate led by GMP Securities L.P. and including Cormark Securities Inc., Canaccord Genuity Corp., CIBC World Markets Inc., Scotia Capital Inc., AltaCorp Capital Inc., National Bank Financial Inc. and Raymond James Ltd. (collectively, the "Underwriters").
After giving effect to the Offering, the Selling Shareholder's ownership interest in the Company has been reduced from 5,182,601 Common Shares (on a pre-Offering basis, equivalent to approximately 26.1% of the issued and outstanding Common Shares on a non-diluted basis) to 3,312,601 Common Shares (equivalent to approximately 16.7% of the issued and outstanding Common Shares on a non-diluted basis).
The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from registration under the 1933 Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to, or for the account or benefit of, U.S. persons.
About Alliance Grain Traders Inc.
AGT is a processor of value-added pulse, staple food and ingredients for export and domestic markets, as well as a supplier of packaged and canned foods to retail and food service sectors. Through its offices and processing facilities located in some of the best agricultural growing regions in Canada, the U.S., Turkey, China, Australia and South Africa, merchandising and sales offices in the U.K., the Netherlands, Spain and India and origination offices in Russia, AGT produces a full range of pulses and specialty crops including lentils, peas, chickpeas, beans and canary seed as well as food ingredients such as pulse flours, proteins, starches and fibres. Through its subsidiaries in Turkey, the Arbel Group, AGT also produces staple foods such as Arbella Pasta, rice, and milled wheat products, including bulgur and semolina.
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