Acasta Enterprises Inc. Files Amended and Restated Preliminary Prospectus for Initial Public Offering

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES/

All values are in Canadian dollars unless otherwise indicated.

TORONTO, July 3, 2015 /CNW/ - Acasta Capital Inc. ("Acasta") and Acasta Enterprises Inc. (the "Corporation") announce that the Corporation has filed today an amended and restated preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in respect of the Corporation's $275 million initial public offering of Class A Restricted Voting Units (the "Offering"). A copy of the amended and restated preliminary prospectus is available on the SEDAR website at www.sedar.com under the Corporation's profile.

As disclosed in the amended and restated preliminary prospectus, Gordon Nixon, former President and Chief Executive Officer of the Royal Bank of Canada, has joined the Corporation as a founder and advisor with an investment commitment of $1 million. In addition, Calin Rovinescu has been appointed chair of the board of directors of the Corporation. The founders intend to invest $11 million of "at-risk" capital and up to $16.8 million if the offering size is increased.

The Corporation's founders, comprised of its board of directors, advisors, management and principals of Acasta, are:

  • Anthony Melman (Director), Partner, President and Chief Executive Officer of Acasta, and Chief Executive Officer of the Corporation;
  • Belinda Stronach (Director), Partner and Chairman of Acasta and Chair and President of The Stronach Group;
  • Geoff Beattie (Director), Chief Executive Officer of Generation Capital and Chairman of Relay Ventures;
  • Johan Eliasch (Director), Chairman and CEO of Head N.V.;
  • Calin Rovinescu (Director & Chair), President and Chief Executive Officer of Air Canada, and Chairman of the Star Alliance Chief Executive Board;
  • Hunter Harrison (Advisor), Chief Executive Officer of Canadian Pacific Railway Limited and Canadian Pacific Railway Company;
  • Gordon Nixon (Advisor), former President and Chief Executive Officer of the Royal Bank of Canada;
  • Rick Waugh (Advisor), Vice-Chair/Chair Elect to the Board of Governors, York University and former Deputy Chairman, President and Chief Executive Officer of The Bank of Nova Scotia;
  • Richard Smith, Chief Financial Officer and Chief Operating Officer of the Corporation;
  • Andrew Dale, Partner and Vice-President of Acasta;
  • Mark Entwistle, Partner and Managing Director of Acasta;
  • Michael Liebrock, Partner and Managing Director of Acasta; and
  • Alexander Singh, Partner, Managing Director, General Counsel and Secretary of Acasta, and Secretary of the Corporation.

The Offering is being distributed by a syndicate of underwriters led by BMO Capital Markets, TD Securities Inc. and Canaccord Genuity Corp, and includes CIBC World Markets Inc., Scotia Capital Inc. and National Bank Financial Inc.  

Goodmans LLP is acting as Canadian legal counsel to Acasta and the Corporation, Stikeman Elliott LLP is acting as Canadian legal counsel to the underwriters, and Fried, Frank, Harris, Shriver & Jacobson LLP is acting as United States legal counsel to Acasta, the Corporation and the underwriters.

An amended and restated preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The amended and restated preliminary prospectus is still subject to completion or amendment. Copies of the amended and restated preliminary prospectus may be obtained from any of the underwriters listed above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

The amended and restated preliminary prospectus has not yet become final for the purpose of a distribution of securities to the public. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar authority in such jurisdiction. This press release is not an offer of securities for sale in the United States, and the securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933. Copies of the amended and restated preliminary prospectus are available on SEDAR at www.sedar.com.

Completion of the Offering is subject to the receipt of customary approvals, including regulatory approvals.

About Acasta Enterprises Inc.
Acasta Enterprises Inc. is a newly organized special purpose acquisition corporation incorporated under the laws of the Province of Ontario for the purpose of effecting a qualifying acquisition.

About Acasta Capital Inc.
Acasta is the sponsor of the Corporation. Acasta is a merchant bank and advisory firm based in Toronto, Ontario, formed to bring together individuals with unique experiences and track records to create value for clients and partners based on inventive and actionable ideas. Acasta's principals are figures who have operated at senior levels of asset management, politics, and commerce within the international business community, and have global networks across numerous sectors. Visit Acasta Capital Inc. at www.acastacapital.com.

Forward-Looking Statements
This press release may contain forwardlooking information within the meaning of applicable securities legislation, which reflects Acasta's and the Corporation's current expectations regarding future events. Forwardlooking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Acasta's or the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forwardlooking information. Such risks and uncertainties include, but are not limited to, failure to complete the Offering and related transactions, and the factors discussed under the headings "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the amended and restated preliminary prospectus of the Corporation dated July 3, 2015, a copy of which is available on the SEDAR website at www.sedar.com under the Corporation's profile. Neither Acasta nor the Corporation undertake any obligation to update such forwardlooking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Acasta Enterprises Inc.

For further information: Mark Entwistle, Managing Director, Acasta Capital Inc., (416) 531-9497


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