/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE
UNITED STATES/
OAKVILLE, ON, Dec. 20, 2013 /CNW/ - Vicwest Inc. (the "Company") (TSX:
VIC, VIC.DB, VIC.DB.A) is pleased to announce that, in connection with
its recently closed offering (the "Offering") of $30,000,000 of 5.25%
convertible unsecured subordinated debentures (the "Debentures"), the
underwriters have purchased an additional $2,000,000 aggregate
principal amount of Debentures at a price of $1,000 per Debenture upon
the exercise of their over-allotment option.
The Offering was completed on a bought deal basis and was underwritten
by a syndicate of underwriters co-led by National Bank Financial Inc.,
CIBC World Markets Inc. and RBC Dominion Securities Inc. and including
AltaCorp Capital Inc., Cormark Securities Inc., GMP Securities L.P. and
HSBC Securities (Canada) Inc. As previously announced, the Company
intends to use the net proceeds from the Offering to reduce
indebtedness, for future acquisitions and for general corporate
purposes.
This press release is not an offer or a solicitation of an offer of
securities for sale in the United States. The convertible debentures
have not been and will not be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from
registration.
ABOUT VICWEST INC.
Vicwest Inc. is a leading manufacturer and distributor of engineered
storage and handling systems for grain, fertilizer and liquid storage
as well as building construction products for agriculture, commercial,
industrial and residential markets. We operate through two
strategically aligned divisions: Vicwest Building Products and
Westeel. With approximately 7,000 customers, 1,200 dedicated employees
and 34 business partners, we are positioned for growth in domestic and
international markets. Vicwest Inc. is a member of the S&P/TSX
SmallCap Index. For more information, visit www.vicwestinc.com.
Forward-Looking Statements
Certain statements in this news release constitute forward-looking
statements within the meaning of applicable securities laws.
Forward-looking statements include, but are not limited to,
management's beliefs, plans, estimates, and intentions, and similar
statements concerning anticipated future events, results,
circumstances, performance or expectations that are not historical
facts. Forward-looking statements may include comments with respect to
the Company's objectives, strategies to achieve those objectives,
potential acquisitions, expected financial results, the outlook for the
business of the Company and the Company's expected use of proceeds from
the Offering. Forward-looking statements generally can be identified by
the use of forward-looking terminology such as "outlook", "objective",
"may", "will", "expect", "intend", "estimate", "anticipate", "believe",
"should", "plans" or "continue", or similar expressions suggesting
future outcomes or events. Such forward-looking statements reflect
management's current beliefs and are based on information currently
available to management. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially from
those contemplated by such statements. Readers are encouraged to
review the (final) short form prospectus of the Company dated November
27, 2013 filed in connection with the Offering, the most recently filed
Management's Discussion and Analysis and other disclosure documents
filed by the Company with Canadian securities regulatory agencies and
commissions. Readers are cautioned not to place undue reliance on the
Company's forward-looking statements. The forward-looking statements
contained herein are made as of the date of this press release and
except as required by applicable law, the Company undertakes no
obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
SOURCE Vicwest Inc.
