/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE U.S./
TORONTO, Sept. 3, 2021 /CNW/ - Park Lawn Corporation
(TSX: PLC) ("PLC" or the "Company") is pleased
to announce that it has completed its previously announced public
offering of common shares (the "Common Shares") with a
syndicate of underwriters co-led by Scotiabank and National Bank
Financial Inc., and including CIBC Capital Markets, Cormark
Securities Inc., RBC Capital Markets, TD Securities Inc., Acumen
Capital Finance Partners Limited, Stifel GMP and Paradigm
Capital Inc., on a "bought deal" basis. A total of
4,081,000 Common Shares were issued at a price of C$36.40 per Common Share for total gross proceeds
of approximately C$148.5 million (the
"Offering"), which includes proceeds from the full exercise
of an over-allotment option to purchase an additional 371,000
Common Shares.
The Company intends to use the net proceeds of the Offering to
pay down the Company's revolving credit facility to free up
capacity to fund potential future acquisitions and organic growth
opportunities and for general corporate purposes.
The Common Shares were offered pursuant to a short-form
prospectus filed in each of the provinces of Canada, which describes the terms of the
Offering. Copies of the final short form prospectus and documents
incorporated by reference therein are available electronically on
SEDAR (www.sedar.com) under PLC's issuer profile.
The securities offered pursuant to the Offering have not
been, nor will they be, registered under the United States
Securities Act of 1933, as amended, (the "1933 Act") and may
not be offered, sold or delivered, directly or indirectly, in
the United States, or to, or for
the account or benefit of, "U.S. persons" (as defined in Regulation
S under the 1933 Act), except pursuant to an exemption from the
registration requirements of the 1933 Act. This press release does
not constitute an offer to sell or a solicitation of an offer to
buy any securities in the United
States or to, or for the account or benefit of, U.S.
persons.
About Park Lawn Corporation
PLC provides goods and services associated with the disposition
and memorialization of human remains. Products and services are
sold on a pre-planned basis (pre-need) or at the time of a death
(at-need). PLC and its subsidiaries own and operate businesses
including cemeteries, crematoria, funeral homes, chapels, planning
offices and a transfer service. PLC operates in three Canadian
provinces and fifteen U.S. states.
Cautionary Statement Regarding Forward–Looking
Information
This news release may contain forward-looking statements (within
the meaning of applicable securities laws) relating to the business
of PLC and the environment in which it operates. Forward-looking
statements are identified by words such as "believe", "anticipate",
"project", "expect", "intend", "plan", "will", "may", "estimate",
"pro-forma" and other similar expressions. These statements are
based on PLC's expectations, estimates, forecasts and projections
and include, without limitation, statements regarding the proposed
use of net proceeds of the Offering and the Company's future growth
strategy. The forward-looking statements in this news release are
based on certain assumptions, including assumptions regarding
present and future business strategies, the environment in which
PLC will operate in the future, the anticipated adjustments to
operations in the COVID-19 pandemic, expected revenues, expansion
plans and PLC's ability to achieve its goals. Forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties that are difficult to control or predict. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including, but not limited to, risks associated with the current
COVID-19 pandemic, and the factors discussed under the heading
"Risk Factors" in the final short form prospectus and in the
Company's annual information form available on SEDAR
(www.sedar.com) under PLC's issuer profile. There can be no
assurance that forward-looking statements will prove to be accurate
as actual outcomes and results may differ materially from those
expressed in these forward-looking statements. Readers, therefore,
should not place undue reliance on any such forward-looking
statements. Further, these forward-looking statements are made as
of the date of this news release and, except as expressly required
by applicable law, PLC assumes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
SOURCE Park Lawn Corporation