NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
OTTAWA, March 17, 2021 – Calian Group Ltd. (“Calian” or the “Company”) (TSX:CGY) is pleased to announce that it has completed its previously announced bought deal offering, under which a total of 1,318,000 common shares of the Company (the "Common Shares") were sold at a price of $60.50 per Common Share for aggregate gross proceeds of $79,739,000, including 78,000 Common Shares issued pursuant to the partial exercise of the over-allotment option granted to the Underwriters (as defined below) (the "Offering"). The Offering was conducted by a syndicate of underwriters co-led by Desjardins Capital Markets and Acumen Capital Finance Partners Limited, and including Canaccord Genuity Corp., CIBC Capital Markets, Stifel GMP, Echelon Capital Markets, Laurentian Bank Securities and Cormark Securities Inc. (collectively, the “Underwriters”).
The Company intends to use the net proceeds from the Offering to, among other things and as more fully described in the Prospectus Supplement (as defined below), pursue strategic growth initiatives and for general corporate and working capital purposes.
The Common Shares were offered (i) by way of a prospectus supplement dated March 10, 2021 (the “Prospectus Supplement”) to the Company’s amended and restated final short form base shelf prospectus dated February 25, 2021 (amending and restating its final short form base shelf prospectus dated January 31, 2020), which Prospectus Supplement was filed with the securities commissions and other similar regulatory authorities in each of the provinces of Canada; and (ii) in jurisdictions outside of Canada and the United States as agreed to by the Company and the Underwriters on a private placement or equivalent basis.
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 the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and applicable U.S. state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.
Calian employs over 4,500 people in its delivery of diverse products and solutions for private sector, government and defence customers in North American and global markets. The Company’s diverse capabilities are delivered through: Advanced Technologies, Health, Learning, and IT and Cyber Solutions. Advanced Technologies provides innovative products, technologies and manufacturing services and solutions for the space, communications, defence, nuclear, government and agriculture sectors. Health manages a network of more than 2,000 healthcare professionals delivering primary care and occupational health services to public and private sector clients across Canada. Learning is a trusted provider of emergency management, consulting and specialized training services and solutions for the Canadian Armed Forces and clients in the defence, health, energy and other sectors. IT and Cyber Solutions supports public and private-sector customer requirements for subject matter expertise in the delivery of complex IT and cyber security solutions. Headquartered in Ottawa, the Company’s offices and projects span Canada and international markets. For further information, please visit our website at www.calian.com.