/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
TORONTO, June 29 /CNW/ - (TSX:KNA.UN) - Keystone North America Inc.
("KNA") and Keystone Newport ULC ("KNA ULC", and together with KNA, the
"Issuer") announced the successful private placement by KNA ULC of
C$3.5 million principal amount of 14.5% subordinated notes. The proceeds from
the sale will be utilized to reduced outstanding senior indebtedness and
support the continuation of our acquisition program.
Following this private placement, KNA ULC has a total of C$115,133,991
aggregate principal amount of 14.5% subordinated notes outstanding, of which
C$101,633,991 principal amount is currently combined with 23,713,017 common
shares of KNA to form income participating securities of the Issuer.
The Issuer, through its subsidiary Keystone Group Holdings, Inc.
("Keystone"), is a leading owner and operator of funeral homes across the
United States. Keystone owns and operates 181 funeral homes and 14 cemeteries
in 28 states and the province of Ontario, making it, in management's estimate,
the fifth largest funeral home operator in North America.
This press release may contain forward-looking statements relating to
expected future events and financial and operating results of the KNA and KNA
ULC that involve risks and uncertainties. Actual results may differ materially
from management expectations as projected in such forward-looking statements
for a variety of reasons, including market and general economic conditions and
the risks and uncertainties detailed from time to time in the prospectus filed
with the Canadian securities regulatory authorities. Due to the potential
impact of these factors, KNA and KNA ULC disclaim any intention or obligation
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless required by applicable law.
For further information:
For further information: Steven Tidwell, Chief Executive Officer, (813)
225-4653 or firstname.lastname@example.org; Stephen Shaffer, Chief Financial
Officer, (813) 225-4654 or email@example.com or visit our investor
website at www.keystonenorthamerica.ca