IBI Group Inc Announces $41 Million Bought Deal Financing

IBI Group Inc announced that it has entered into an agreement to sell 2,700,000 common shares on a bought deal basis at a price of $15.00 per Share to a syndicate of underwriters co-led by TD Securities Inc., CIBC and National Bank Financial Inc. for gross proceeds of CAD40,500,000 n addition, the Company has granted the syndicate an over-allotment option, exercisable in whole or in part at any time up to 30 days following closing, to purchase up to an additional 405,000 Shares which, if exercised in full, would increase the gross Offering size to CAD46,575,000. Concurrent with the Offering, the Company has agreed to issue, on a non-brokered private placement basis, approximately 667,000 Shares at $15.00 per Share (the 'Concurrent Non-Brokered Private Placement') to IBI Group Management Partnership (the 'Management Partnership') in full satisfaction of $10 million of indebtedness owed by the Company to the Management Partnership. Shares being issued under the Concurrent Non-Brokered Private Placement will not be freely-tradable until the expiry of a four month hold period which shall commence on closing. The net proceeds from the Offering will be used for potential future acquisitions, debt reduction and general corporate purposes.