ADF Group Inc. announces closing of bought deal financing


    TERREBONNE, QC, June 20 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the
"Company") (TSX: DRX) announces the closing of the "bought deal" offering of
3,902,475 subordinate voting shares (the "Subordinate Voting Shares")
(including the Subordinate Voting Shares issued pursuant to the exercise of
the Underwriters' option) at a price of $3.50 per share for net proceeds to
the Company of $10,972,500. The syndicate of underwriters was led by GMP
Securities L.P. and included Northern Securities Inc. and Laurentian Bank
Securities Inc. The offering consisted of the issuance and sale by the Company
of 3,300,000 Subordinate Voting Shares and the sale by Groupe JPMP
Inc.("JPMP") and Tecno-Centre Quebec Inc. ("Tecno-Centre"), two entities
directly and indirectly controlled by Jean, Pierre and Marise Paschini, of
334,951 and 267,524 Subordinate Voting Shares respectively.
    The Company intends to use between $7,000,000 and $8,000,000 of the net
proceeds to repay its long-term debt in part and the remaining portion for
general corporate purposes, including the potential acquisition of fixed
    After giving effect to the secondary offering, JPMP continues to hold
1,000,000 issued and outstanding Subordinate Voting Shares, which represent
5.10% of all the issued and outstanding Subordinate Voting Shares.
Tecno-Centre no longer holds issued and outstanding securities of the Company.
Jean, Pierre and Marise Paschini also continue to indirectly hold all of the
14,343,107 issued and outstanding multiple voting shares of the Company. JPMP
currently has no intention to sell additional securities of ADF in the near

    About ADF

    ADF Group Inc. is a North American leader in the design, engineering,
fabrication and selective installation of complex steel superstructures, as
well as in architectural metal work. ADF is one of the few players in the
industry capable of handling highly technically complex mega projects on
fast-track schedules in the commercial, institutional, industrial and public

    Forward-Looking Information

    This press release may contain forward-looking statements reflecting ADF
objectives and expectations. These statements are identified by the use of
verbs such as "expect" as well as by the use of future or conditional tenses.
By their very nature, these types of statements involve risks and uncertainty.
Consequently, reality may differ from ADF's expectations.
    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act"), or any state securities
laws and may not be offered or sold within the United States or to United
States Persons unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is available.

    All amounts are expressed in Canadian dollars.
    %SEDAR: 00011963EF

For further information:

For further information: ADF Group Inc., Jean Paschini, Chairman of the
Board and Chief Executive Officer; Louis Potvin, Chief Financial Officer,
(450) 965-1911, 1-800-263-7560 ;

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