TORONTO, June 19, 2014 /CNW/ - NewGrowth Corp. (the "Company") is
pleased to announce that the Company's treasury offering of Class B
preferred shares, series 3 (the "Preferred Shares") and additional
Class A capital shares (the "Capital Shares") has been priced at $32.07
per Preferred Share and $42.40 per Capital Share.
The Company intends to file a final prospectus in each of the provinces
of Canada in connection with the offering. The offering is expected to
close on or about June 26, 2014 and is subject to customary closing
conditions including approvals of applicable securities regulatory
authorities and the Toronto Stock Exchange.
The syndicate of agents for the offering is being led by Scotiabank and
includes CIBC, TD Securities Inc., BMO Capital Markets, National Bank
Financial Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond
James Ltd., Burgeonvest Bick Securities Limited, Desjardins Securities
Inc., Mackie Research Capital Corporation and Manulife Securities
The Company is a mutual fund corporation created to invest its assets in
common shares of selected large capitalization Canadian companies (the
"Portfolio Shares") with growth potential and an attractive dividend
yield in order to generate dividend income for holders of its preferred
shares and to enable the holders of the Company's Capital Shares to
participate in any capital appreciation in the Portfolio Shares.
This offering is only made by prospectus. A preliminary short form
prospectus containing important detailed information about the
securities being offered has been filed and is still subject to
completion or amendment. Copies of the preliminary short form
prospectus may be obtained from any of the above-mentioned agents.
Investors should read the preliminary short form prospectus before
making an investment decision. There will not be any sale of the
securities being offered until a receipt for the final prospectus has
Commissions, trailing commissions, management fees and expenses all may
be associated with investment funds. Please read the Company's publicly
filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently
and past performance may not be repeated.
SOURCE: NewGrowth Corp.
For further information:
Investor Relations NewGrowth Corp.
Tel: (416) 862-3931
Web site: www.scotiamanagedcompanies.com