Canyon Services Group Inc. - 2016-03-29
Description
Closed its bought deal offering of common shares. The company issued about 15.8 million common shares at CA$4 each. The offer included an overallotment option for underwriters to purchase about 2 million additional shares. Syndicate of underwriters was led by Peters & Co. Ltd. and included CIBC World Markets Inc., Cormark Securities Inc., Raymond James Ltd., National Bank Financial Inc., AltaCorp Capital Inc., FirstEnergy Capital Corp., RBC Capital Markets and TD Securities Inc. Net proceeds will reduce bank debt, increase working capital, fund ongoing capex and potential acquisition opportunities and support general corporate purposes.