NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
ROUGEMONT, QC, Aug. 5, 2011 /CNW Telbec/ - 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.
About Lassonde Industries Inc.
Lassonde Industries develops, manufactures and markets an innovative and distinctive line of fruit and vegetable juices and drinks as well as specialty food products such as fondue broth and sauces, soups, gravies, canned corn-on-the-cob, bruschetta toppings, tapenades, pestos and sauces for pasta and pizza. Lassonde Industries imports selected wines from several countries of origin for packaging and marketing purposes. It also imports olive oil. Nearly 1,300 employees contribute to the Company's growth and to offering quality products to customers. The Class A subordinate voting shares of Lassonde Industries Inc. are listed on the TSX.
Website: www.lassonde.com
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.