NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
MONTREAL, Aug. 23, 2012 /CNW Telbec/ - Jolina Capital Inc. ("Jolina Capital") announces that it has entered into an agreement (the "Agreement") with National Bank Financial Inc. and BMO Nesbitt Burns Inc. (the "Co-Leads") to complete a secondary offering of common shares of TransForce Inc. ("TransForce").
Under the Agreement, the Co-Leads have agreed to purchase 8,000,000 common shares ("Common Shares") of TransForce from Jolina Capital at a purchase price of $18.55 per Common Share for gross proceeds to Jolina Capital of approximately $148,400,000. The Common Shares are being sold by Jolina Capital to the Co-Leads (the "Offering") for resale by way of secondary offering. The Offering is expected to close on or about August 28, 2012. TransForce will not receive any proceeds from the Offering.
Following the closing of the Offering, Jolina Capital and its joint actors will continue to have ownership and control over 8,064,163 common shares of TransForce, representing approximately 8.4% of the issued and outstanding common shares of TransForce.
Under the Agreement, Jolina Capital has agreed not to sell any additional common shares of TransForce or other securities exchangeable or convertible into common shares of TransForce without the prior written consent of the Co-Leads for a period of 90 days following closing of the Offering.
Jolina Capital will continue to hold its remaining common shares of TransForce for investment purposes, and in accordance with applicable securities law, may increase or decrease its investment in TransForce depending on market conditions and other relevant factors.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities referred to in this press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
SOURCE: JOLINA CAPITAL INC.
For further information:
Joe Marsilii, Vice-President
Investment and Finance
Jolina Capital Inc.