TORONTO, ONTARIO--(Marketwired - June 8, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Park Lawn Corporation (TSX:PLC) ("PLC" or the "Company") announced today that as result of
investor demand it has upsized its previously announced offering of common shares (the "Common Shares") to
3,685,000 Common Shares at a price of C$19.00 per Common Share for gross proceeds to the Company of C$70,015,000 (the
"Offering"). The Offering is being sold on a bought deal basis to a syndicate of underwriters led by National
Bank Financial Inc. The net proceeds from the sale of the Common Shares will be used to partially fund the cash portion of the
purchase price for the previously announced acquisition (the "Acquisition") of Saber Management, LLC
("Saber"). The Company has also granted to the underwriters an over-allotment option to purchase 552,750
additional Common Shares, representing 15% of the size of the offering. The over-allotment option may be exercised at any time,
in whole or in part, until 30 days following the closing of the Offering.
On June 7, 2017 Park Lawn announced that it had entered into a definitive agreement to acquire all of the outstanding
membership interests of Saber for a purchase price of approximately US$48.75 million in cash, subject to customary working
capital adjustments, plus additional consideration of up to US$9.75 million in PLC common shares. The additional consideration
will be held in escrow and be released over a period of three years if certain financial hurdles are met. Saber currently owns
and operates 19 cemeteries and 4 funeral homes in Kentucky, Illinois and Texas.
The Company expects to file a preliminary short form prospectus relating to the Offering on June 13, 2017 and closing of the
Offering is expected to occur on or about June 27, 2017. The Offering is subject to normal regulatory approvals, including
approval of the Toronto Stock Exchange. The Common Shares will be offered in each of the provinces of Canada, and if offered in
the United States, by way of private placement in accordance with applicable registration exemptions.
The securities offered pursuant to the Offering have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, (the " 1933 Act ") and may not be offered, sold or
delivered, directly or indirectly, in the United States, or to, or for the account or benefit of, "U.S. persons" (as defined in
Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act. This press
release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to, or
for the account or benefit of, U.S. persons.
About Park Lawn Corporation
Park Lawn Corporation provides goods and services associated with the disposition and memorialization of human remains.
Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). Park Lawn Corporation and
its subsidiaries own and operate 65 businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a
transfer service. Park Lawn Corporation operates in Ontario, Quebec, Manitoba, Saskatchewan, British Columbia and Michigan.
Cautionary Statement Regarding Forward-Looking Information
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the
business of the Company and the environment in which it operates. Forward-looking statements are identified by words such as
"believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. These
statements are based on the Company's expectations, estimates, forecasts and projections and include, without limitation,
statements regarding the completion of the Acquisition, the completion of the Offering and the proposed use of proceeds of the
Offering,. The forward-looking statements in this news release are based on certain assumptions, including without limitation
that all conditions to completion of the Acquisition and the Offering will be satisfied or waived and that currency exchange
rates remain consistent. They are not guarantees of future performance and involve risks and uncertainties that are difficult to
control or predict. A number of factors could cause actual results to differ materially from the results discussed in the
forward-looking statements, including, but not limited to, the factors discussed under the heading "Risk Factors" in the
Company's annual information form available at www.sedar.com. There can be no
assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from
those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such
forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as
expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.