Mullen Group closes C$149 million bought deal offering

On May 17, 2016, Mullen Group Ltd. ("Mullen Group") announced that it closed its previously announced bought deal offering. The corporation, through a syndicate of underwriters led by TD Securities Inc., issued a total of 11,241,250 common shares (including 1,466,250 shares issued upon full exercise of the over-allotment option granted to the Underwriters) at a price of C$13.30 per share for gross proceeds of approximately C$149 million.

The net proceeds from the offering and a concurrent C$10 million private placement to the Mullen family and certain directors, officers, and employees of the Mullen Group, will be used to temporarily repay bank indebtedness, to transact on potential strategic acquisitions, to support future growth initiatives and for general corporate purposes.

Mullen Group owns a network of independently operated businesses and is recognized as one of the leading suppliers of trucking and logistics services in Canada and provides a wide range of specialized transportation and related services to the oil and natural gas industry in western Canada.

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