TORONTO: C.A.
Bancorp Inc. (the “Company”) is pleased to announce that it has issued
an additional 410,000 shares for gross proceeds of $1,353,000 pursuant
to the exercise by the agents of their over-allotment option, in
connection with the common share offering that closed on June 29, 2007.
Gross proceeds: Including the over-allotment, the total gross proceeds of the Company’s recent common share offering were $49,203,000.
Use of proceeds.:The
Company intends to use the net proceeds of the Offering to: (i) make
controlling or minority investments in both public and private
companies that: (a) present unique growth opportunities; (b) management
believes are under-valued and/or under-performing due to poor
management execution or inappropriate capital structure; or (c) are
undergoing a significant transition, such as a change in senior
management or succession in ownership; and (ii) establish, invest in
and manage new private equity funds and alternative asset investment
vehicles that will generate management fees for the Company. In
addition, a portion of the proceeds may also be used for working
capital and general corporate purposes.
Trading information: C.A. Bancorp Inc. common shares trade on the Toronto Stock Exchange (the “TSX”) under the symbol BKP.
C.A. Bancorp Inc.: C.A.
Bancorp Inc. is a publicly traded Canadian merchant bank and asset
manager that provides investors with access to a range of private
equity and alternative asset class investment opportunities, typically
available only to institutional and high-net-worth investors. The
Company is focused on investments in small- and middle-capitalization
public and private companies, with emphasis on the industrials, real
estate, infrastructure and financial services sectors.
Agents:
The syndicate of agents, which was co-led by CIBC World Markets Inc.,
National Bank Financial Inc. and RBC Capital Markets, included BMO
Capital Markets, Scotia Capital Inc., TD Securities Inc., Canaccord
Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd.,
Dundee Securities Corporation, Richardson Partners Financial Ltd.,
Wellington West Capital Inc., Blackmont Capital Inc., Desjardins
Securities Inc., GMP Securities L.P., Haywood Securities Inc. and
Research Capital Corporation. More information:
Mark Gardhouse, President and Paolo De Luca, Chief Financial Officer
Tel: 1-866-388-5985
Fax: 416-861-8166
info@cabancorp.com The securities offered hereby have not
been registered under the U.S. Securities Act of 1933, as amended and
may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any state
in which such offer, solicitation or sale would be unlawful.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR TO BE DISSEMINATED IN THE UNITED STATES
This
news release contains “forward-looking statements” relating to the
Company’s intentions. Forward looking statements involve known or
unknown risks, uncertainties and other factors, which may cause the
actual performance or achievements of the Company to be materially
different from those projected by such forward-looking statements.
Among others, such factors include uncertainty with respect to the
availability of investment opportunities and competition for
investments.
Forward-looking statements contained herein are made as of the date
hereof and are based on the opinions of management based on information
available to management as of such date, and, except as may be required
by applicable securities laws, the Company disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, changes to the Company’s investment plan, future events or
results or otherwise.
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