Delivering Regional aviation to the world
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
HALIFAX, March 23, 2018 /CNW/ - Chorus Aviation Inc.
('Chorus') (TSX: CHR) announced today that, in connection with its previously completed bought deal public offering of 11,628,000
common shares of Chorus ('Shares') at $8.60 per Share for gross proceeds of $100,000,800, the underwriters have purchased 1,400,000 Shares under the one-time over-allotment option,
representing incremental aggregate gross proceeds of $12,040,000. For greater certainty, 'Shares'
means for Canadian investors, Class B Voting Shares of Chorus, and for non-Canadian investors, Class A Variable Voting Shares of
Chorus.
RBC Capital Markets and CIBC Capital Markets acted as joint bookrunners for the offering with a syndicate that included Scotia
Capital Inc., National Bank Financial Inc., TD Securities Inc., Cormark Securities Inc., Canaccord Genuity Corp. and Paradigm
Capital Inc.
The net proceeds of the offering will be used to fund the growth of Chorus Aviation Capital, Chorus' aircraft leasing
business, including the acquisition of aircraft intended for or currently on lease to third parties, as well as for working
capital requirements and other general corporate purposes.
This news release does 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 province, state or jurisdiction in which such offer, solicitation or sale would be
unlawful. The Shares 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 of the U.S. Securities Act of 1933 and other applicable securities laws.
About Chorus
Headquartered in Halifax, Nova Scotia, Chorus was incorporated on September 27, 2010. Chorus' vision is to deliver regional aviation to the world. Chorus has been leasing its
owned regional aircraft into Jazz's Air Canada Express operation since 2009, and established Chorus Aviation Capital to become a
leading, global provider of regional aircraft leases and support services. Chorus also owns Jazz Aviation and Voyageur
Aviation – companies that have long histories of safe and solid operations that deliver excellent customer service in the areas
of contract flying operations, engineering, fleet management, and maintenance, repair and overhaul. Chorus Class A Variable
Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'.www.chorusaviation.ca
Forward-Looking Information
This news release contains 'forward-looking information' as defined under applicable Canadian securities legislation.
Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "potential", "project", "will", "would", and similar terms and phrases, including
references to assumptions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may
cause actual results, performance or achievements to differ materially from those expressed in the forward-looking information.
Examples of statements containing forward-looking information in this news release include the anticipated use of proceeds and
the proceeds upon exercise of the Over-Allotment Option. Results indicated in forward-looking information may differ materially
from actual results for a number of reasons, including those described in Chorus' Annual Information Form dated February 14, 2018 and Management's Discussion and Analysis of Results of Operations and Financial Condition
dated February 14, 2018. Statements containing forward-looking information in this news release are
made as of the date of this news release and Chorus does not undertake any obligation to publicly update such statements to
reflect new information, subsequent events or otherwise unless required by applicable securities laws.
SOURCE Chorus Aviation Inc.
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