MONTREAL, QUEBEC--(Marketwired - Nov. 10, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
Marcel Bourassa and Jean-Marie Bourassa, through their wholly owned subsidiary 9264-4582 Québec Inc. (the
"Bourassa Family"), announce that they have entered into an agreement with National Bank Financial Inc., Cormark Securities Inc.
and Laurentian Bank Securities Inc., for a secondary offering by the Bourassa Family on a private placement bought deal basis of
1,750,000 common shares (the "Shares") of Savaria Corporation ("Savaria" or the "Company") (TSX:SIS) at a price of $11.34
per share for gross proceeds of $19,845,000 (the "Offering"). 9264-4582 Québec Inc. is owned 50% by Marcel Bourassa,
and 50% by Jean-Marie Bourassa.
The Offering is being undertaken for estate planning purposes. Both Marcel and Jean-Marie Bourassa remain committed
to staying long-term shareholders of the Company. The successful business model and growth strategy of Savaria, which were
further validated by the recent release of its strong third quarter results, only reinforce the Bourassa Family's intention to
maintain a long-term position in Savaria.
"I am very pleased with Savaria's progress so far this year," said Marcel Bourassa, President and CEO of
Savaria. "Savaria's management team has done tremendous work in implementing our growth strategy and we remain very
optimistic about the Company's future prospects".
Continued Relationship
Upon completion of the Offering, The Bourassa Family will continue to own 13,124,022 common shares of Savaria, representing
approximately 36.1 % of all the issued and outstanding common shares of Savaria. Through the Offering, Marcel Bourassa
will be selling only 8% of the common shares of Savaria he held directly & indirectly prior to the Offering.
Details of the Offering
Closing of the Offering is expected to occur on or about December 1, 2016.
The Shares will be sold in Canada on a private placement basis to "accredited investors" under National
Instrument 45-106 and pursuant to certain other available and agreed upon prospectus exemptions.
The Shares to be offered pursuant to the Offering have not been, and will not be, 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 offer, solicitation or sale of the securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About Savaria Corporation
Savaria Corporation (savaria.com) is one of North America's leaders in the accessibility industry. It provides accessibility
solutions for the elderly and physically challenged to increase their mobility and independence. The diversity of its product
line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility
equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts, as well as elevators for
home and commercial use. In addition, it converts and adapts vehicles to be wheelchair accessible. It also operates a network of
franchisees and corporate stores through which new and recycled accessibility equipment is sold, as well as vehicle conversion in
certain locations. Savaria operates a plant located in Huizhou (China), which increases its competitive edge. The Corporation
records close to 60% of its revenue outside Canada, primarily in the United States. It operates a sales network of some 400
retailers and affiliates in North America and employs some 500 people. Its principal places of business are located in Laval
(Quebec), Brampton (Ontario) and Huizhou (China).