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GENIVAR Income Fund announces closing of $50,000,000 equity financing
GENIVAR Income Fund announces closing of $50,000,000 equity financing.
About this update from Wsp Global Inc
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR\n\n\nDISSEMINATION IN THE U.S./\n\n\nMONTREAL, Sept. 13 /CNW Telbec/ - GENIVAR Income Fund (TSX:GNV.UN)\n("GENIVAR" or the "Fund") announced today the closing of its previously\nannounced public offering of 1,902,439 trust units (the "Units") for gross\nproceeds of $39,000,000 (the "Offering") and the private placement of 536,585\nnon-subordinated exchangeable LP units (the "LP Units") from treasury of\nGENIVAR Limited Partnership ("GENIVAR LP") for gross proceeds of $11,000,000\n(the "Private Placement").\n\n\nThe Offering and the Private Placement will result in net proceed to the\nFund of approximately $47,550,000 which will be used to repay the bank\nadvances and the advances payable to GENIVAR Inc. and to fund the growth\nstrategy of the Fund.\n\n\nThe Units were offered to the public pursuant to a short form prospectus\nfiled with securities regulatory authorities in each province of Canada\nthrough an underwriting syndicate led by National Bank Financial Inc., Raymond\nJames Ltd. and TD Securities Inc. and also including BMO Nesbitt Burns Inc.\nand Cormark Securities Inc.\n\n\nThis news 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 registered under\nthe United States Securities Act of 1933, as amended (the "U.S. Securities\nAct") and may not be offered or sold in the United States except pursuant to\nexemptions from the registration requirements of the U.S. Securities Act and\napplicable state securities laws.\n\n\nAbout GENIVAR\n\n\nGENIVAR is a leading Canadian Engineering services firm providing private\nand public sector clients with a comprehensive range of professional\nconsulting services through all execution phases of a project including\nplanning, design, construction and maintenance. Clients fall into various\nmarket segments such as building, industrial and power, urban infrastructure,\ntransportation and environment. GENIVAR is one of the largest Engineering\nServices firm in Canada in terms of number of employees with over\n2,100 managers, professionals,...