Lassonde Industries Inc. announces the closing of its private placement of subscription receipts
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Lassonde Industries Inc. (TSX: LAS.A) (“Lassonde“) announces the closing of its previously announced private placement of subscription receipts. Lassonde has sold 420,000 subscription receipts at a price of C$75.00 per subscription receipt for a total offering size of C$31,500,000. BMO Capital Markets acted as sole agent for the offering.
The net proceeds of the offering will be used by Lassonde to partially fund its acquisition of a controlling interest in Clement Pappas and Company, Inc. The subscription receipts will be automatically exchanged on a one-to-one basis for Class A subordinate voting shares of Lassonde, without any further action on the part of the holder thereof and without payment of any additional consideration, upon closing of the acquisition of a controlling interest in Clement Pappas and Company, Inc. The net proceeds from the private placement have been placed in escrow with a trust company pending the closing of the acquisition.
SEDAR registration number: 00002099
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements that are based on certain assumptions. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Additional factors are discussed in materials filed from time to time with the securities regulatory authorities in Canada. Lassonde Industries Inc. disclaims any intention or obligation to update or revise any forward-looking statements except as required by law.