Premium Brands completes C$172.7 million public offering of subscription receipts

On May 2, 2018, Premium Brands Holdings Corporation ("Premium Brands") announced the successful closing of the issue and sale of 1,472,000 subscription receipts at a price of C$117.35 per receipt, for gross proceeds of approximately C$172.7 million.

The subscription receipts were offered to the public through a syndicate of underwriters which was co-led by CIBC Capital Markets, Scotiabank, BMO Capital Markets and Cormark Securities, and included National Bank Financial Inc., TD Securities Inc., RBC Capital Markets, Canaccord Genuity Corp., iA Securities and PI Financial Corp. The offering included 192,000 subscription receipts issued pursuant to the exercise, in full, of an over-allotment option granted to the underwriters by Premium Brands.

Once the net proceeds from the offering are released from escrow by the subscription receipt agent, they will be used by the company to finance, in part, the previously announced acquisition of substantially all assets and operating divisions of Oberto Sausage Company, a leading producer, marketer and distributor of branded specialty food products. The acquisition is expected to close in Q2 2018, subject to customary closing conditions, including all applicable regulatory approvals.

Further information can be found on Canada Newswire's website.

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, California, Nevada, Ohio, Arizona, Minnesota, Mississippi and Washington State.