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GENIVAR Income Fund Announces Closing of $50,000,000 Equity Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
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[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nMONTREAL, Oct. 2 /CNW Telbec/ - GENIVAR Income Fund (TSX :GNV.UN)\n("GENIVAR" or the "Fund") announced today the closing of its previously\nannounced public offering of 1,391,650 units of the Fund (the "Units") for\ngross proceeds of approximately $35,000,000 (the "Offering") and the private\nplacement of 596,421 exchangeable LP units (the "LP Units") of GENIVAR Limited\nPartnership ("GENIVAR LP") for gross proceeds of approximately $15,000,000\n(the "Private Placement").\n\n\nThe Offering and the Private Placement will result in net proceeds to the\nFund of approximately $47,750,000 which will be used to repay a portion of the\nbank advances under GENIVAR's credit facilities.\n\n\nThe Units were offered through an underwriting syndicate led by TD\nSecurities Inc., National Bank Financial Inc. and Raymond James Ltd. and also\nincluding BMO Nesbitt Burns Inc., CIBC World Markets Inc., Blackmont Capital\nInc. and Cormark Securities Inc.\n\n\nThis press release shall not constitute an offer to sell or the\nsolicitation of any offer to buy, nor shall there be any sale of these\nsecurities in any jurisdiction in which such offer, solicitation or sale would\nbe unlawful. The Units offered will not be and have not been offered or sold\nin the United States.\n\n\nAbout GENIVAR\n\n\nGENIVAR is a leading Canadian engineering services firm providing private\nand public sector clients with a full range of professional consulting\nservices through all execution phases of a project including planning, design,\nconstruction and maintenance. Its clients, which are of varying sizes, fall\ninto various market segments such as building, industrial and power, urban\ninfrastructure, transportation and environment. GENIVAR is one of the largest\nengineering services firm in Canada in terms of number of employees with more\nthan 3,300 managers, professionals, technicians and technologists and support\nstaff in over 80 offices in Canada and abroad.\n\n\n","length":2200,"tagName":"div"}]