OTTAWA, Jan. 14, 2020 -- Calian Group Ltd. (“Calian” or the “Company”) (TSX: CGY) today announces that it has filed and obtained a receipt for its preliminary short form base shelf prospectus (the “Shelf Prospectus”) with the securities commissions in each of the provinces of Canada. A copy of the Shelf Prospectus can be found on the Company’s directory on SEDAR at www.sedar.com.
The filing of the Shelf Prospectus, when made final, will allow Calian to qualify the distribution by way of prospectus in Canada of up to Cdn.$100 million of common shares, preferred shares, warrants, units, subscription receipts and debt securities, or any combination thereof, during the 25-month period that the Shelf Prospectus is effective. Should the Company decide to offer securities during this period, the specific terms, including the use of proceeds from any offering, will be set forth in a related prospectus supplement to the Shelf Prospectus, which will be filed with the applicable Canadian securities commissions.
“We are proceeding with a Shelf Prospectus, as it will provide us with further access to capital as needed, and the flexibility to capitalize on strategic expansion opportunities,” said Kevin Ford, Chief Executive Officer of Calian. “We have consistently demonstrated strong capital stewardship, and we expect to continue driving shareholder value through our future capital deployment.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of any such jurisdiction.