Cara closes secondary offering of subordinate voting shares

On December 2, 2015, Cara Operations Limited (Cara) announced the completion of the previously announced secondary offering (the "Offering") of 3,000,000 subordinate voting shares of Cara held by Cara Holdings Limited (CHL). The subordinate voting shares were sold by CHL at a price of C$34.75 per share, for total gross proceeds of approximately $104,250,000.

The Offering was made through a syndicate of underwriters led by Scotia Capital Inc. (acting as sole bookrunner) and included BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Laurentian Bank Securities Inc. and Raymond James Ltd.

Cara is Canada's oldest and largest full-service restaurant company, franchising and/or operating some of the most recognized brands in the country including Swiss Chalet, Harvey's, Milestones, Montana's, Kelsey's, East Side Mario's, Casey's, New York Fries, Prime Pubs, Bier Markt and Landing restaurants.

Further information can be found on Cara's website.