/NOT FOR DISTRIBUTION THROUGH U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
EDMONTON, March 14 /CNW/ - The Brick Group Income Fund (the "Fund", and
together with its wholly-owned subsidiary entities, the "Brick Group")
announced today that The Brick Warehouse LP, a member of the Brick Group, has
successfully concluded its previously announced offering of 6.431% senior
secured notes, with a maturity date of March 14, 2014 (the "Notes") in
aggregate principal amount of $83,000,000. The Notes were sold on a private
placement basis through TD Securities Inc., which was retained as sole agent
in connection with the offering.
The net proceeds of the offering of Notes will be used to repay in full
all amounts outstanding under the Brick Group's existing $70 million term
loan, its existing senior secured mortgages of approximately $10 million, and
for liquidity and general corporate purposes.
About the Brick Group
The Brick Group is one of Canada's largest volume retailers of household
furniture, mattresses, appliances and home electronics, operating under four
banners: The Brick, United Furniture Warehouse, The Brick Superstore, and The
Brick Mattress Store. In addition, through its corporate sales division, the
Brick Group services the subdivision, condominium, and high-rise builder
market. The Brick Group's retail operations are located in British Columbia,
Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Prince Edward Island, Nova
Scotia and the Yukon Territory.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the securities referred to herein. The units
will not be registered under the U.S. Securities Act of 1933, as amended (the
"Securities Act") and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons except in certain
transactions exempt from the registration requirements of the Securities Act.
For further information:
For further information: Kim Yost, President and CEO, The Brick Group,
(780) 930-6300, email@example.com; Mike Borys, Executive Vice
President and CFO, The Brick Group, (780) 930-6300, firstname.lastname@example.org