Mr. Gary Berman reports
TRICON ANNOUNCES CLOSING OF BOUGHT DEAL OFFERING
Tricon Capital Group Inc. has completed an offering of
11,097,500 common shares at a price of $5.70 per common share for aggregate gross proceeds of
$63,255,750. The aggregate amount purchased by the underwriters
included the sale by Mandukwe Corp., a company controlled by Geoff
Matus, co-founder and a director of Tricon, of 650,000 common shares
and the issuance by Tricon of 797,500 common shares to cover
overallotments pursuant to the exercise in full of the overallotment
option.
The offering of common shares was completed on a bought-deal basis, and
was underwritten by a syndicate of underwriters co-led by GMP
Securities LP and RBC Capital Markets, and including Canaccord Genuity
Corp., CIBC World Markets Inc., National Bank Financial Inc., Raymond
James Ltd. and Fraser Mackenzie Ltd. As previously announced, the
company intends to use the net proceeds to the company from the
offering to finance continued expansion of its U.S. single-family, home
rental strategy, and for general corporate and working capital
purposes.
We seek Safe Harbor.
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