/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES./
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act")
or any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
TORONTO, Dec. 23, 2013 /CNW/ - Element Financial Corporation (TSX:EFN)
("Element" or the "Company"), one of North America's leading equipment
finance companies, announced today that it has raised gross proceeds of
$15,000,000 from the issuance of an additional 600,000 6.60% Cumulative
5-Year Rate Reset Preferred Shares (the "Preferred Shares") at a price
of $25.00 per Preferred Share as a result of the exercise in full by
the underwriters, of a 15% over-allotment option granted in connection
with the previously announced Preferred Share Offering.
The Preferred Share Offering was conducted by a syndicate of
underwriters co-led by GMP Securities L.P, National Bank Financial
Inc., BMO Capital Markets, CIBC World Markets, RBC Capital Markets and
TD Securities Inc. that included Manulife Securities Inc.
About Element Financial Corporation
With total assets of approximately $3.3 billion, Element Financial
Corporation is one of North America's leading equipment finance
companies. Element operates across North America in five verticals of
the equipment finance market - Commercial Finance, Vendor Finance,
Aviation Finance, Railcar Finance and Fleet Management.
Forward Looking Statements
This release includes forward-looking statements regarding Element and
its business. Such statements are based on the current expectations
and views of future events of Element's management. In some cases the
forward-looking statements can be identified by words or phrases such
as "may", "will", "expect", "plan", "anticipate", "intend",
"potential", "estimate", "believe" or the negative of these terms, or
other similar expressions intended to identify forward-looking
statements. The forward-looking events and circumstances discussed in
this release may not occur and could differ materially as a result of
known and unknown risk factors and uncertainties affecting Element,
including risks regarding the equipment finance industry, economic
factors and many other factors beyond the control of Element. No
forward-looking statement can be guaranteed. Forward-looking
statements and information by their nature are based on assumptions and
involve known and unknown risks, uncertainties and other factors which
may cause our actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statement or information. Accordingly, readers should
not place undue reliance on any forward-looking statements or
information. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and Element undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information,
future events, or otherwise.
SOURCE Element Financial Corporation
