/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE
TORONTO, Nov. 17 /CNW/ - Vector Aerospace Corporation ("Vector" TSX: RNO) announced today the closing of the issuance of an additional 1,065,000 common shares, at a price of $6.35 per share, for gross proceeds of $6,762,750. The issuance was pursuant to the exercise by the syndicate of underwriters, co-led by TD Securities Inc. and Dundee Securities Corporation, of its over-allotment option with respect to Vector's recent equity financing, which closed on October 20, 2009.
Pursuant to the offering, including the exercise of the over-allotment option, Vector has issued an aggregate of 8,165,000 common shares at a price of $6.35 per share for gross proceeds of $51,847,750.
The securities offered have not been and will not be 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 of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
About Vector Aerospace Corporation
Vector is a global independent provider of aviation maintenance, repair and overhaul services. Through facilities in Canada, the United States, the United Kingdom and Africa it provides services to commercial and military customers for various types of gas turbine engines, components and helicopter airframes. Principal operations include Vector Aerospace Engine Services-Atlantic, Vector Aerospace Engine Services-UK, Vector Aerospace Helicopter Services-North America, Vector Aerospace Helicopter Services-UK and Pathix ASP. Vector also provides information technology solutions to an international customer base. Vector employs approximately 2,500 employees.
SOURCE VECTOR AEROSPACE CORPORATION
For further information: For further information: Declan G. O'Shea, President and CEO, Toronto, Ontario, Telephone: (416) 640-2121, Website: www.vectoraerospace.com; Randal L. Levine, Senior Vice-President and Chief Financial Officer, Toronto, Ontario, Telephone: (416) 640-2120