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KINGSEY FALLS, QC, Oct. 22, 2020 /CNW Telbec/ - Cascades Inc. (TSX: CAS) ("Cascades"), a leader in eco-friendly recycling, hygiene and packaging solutions, is pleased to announce the closing of its previously announced offering of 7,441,000 common shares of the Corporation (the "Common Shares") at a price of $16.80 per Common Share for aggregate gross proceeds of $125,008,800 (the "Offering").
The Offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters co-led by CIBC World Markets Inc., RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc., and including National Bank Financial Inc., Scotia Capital Inc., Desjardins Securities Inc. and TD Securities Inc.
Cascades intends to use the net proceeds of the Offering to finance a portion of the previously announced Bear Island mill conversion project and for general corporate purposes.
No securities regulatory authority has either approved or disapproved the contents of this press release. The Common Shares to be issued under the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933 as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the Common Shares may not be offered or sold, pledged or otherwise transferred within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the U.S., nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Founded in 1964, Cascades offers sustainable, innovative and value-added packaging, hygiene and recovery solutions. The Company employs approximately 12,000 women and men across a network of close to 90 facilities in North America and Europe. Driven by its participative management, half a century of experience in recycling, and continuous research and development efforts, Cascades continues to provide innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet. Cascades' shares trade on the Toronto Stock Exchange under the ticker symbol CAS.
CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION
Certain information and statements included or incorporated by reference in this press release that are not purely historical constitute "forward looking information" and "forward-looking statements" as defined under applicable Canadian securities laws. These forward looking statements include, but are not limited to, statements regarding management's expectations, hopes, beliefs, intentions or strategies. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward looking statements. These forward looking statements include, but are not limited to, statements regarding management's expectations, hopes, beliefs, intentions or strategies with respect to the Bear Island mill conversion project and relate, among others, to the projected production capacity, the project costs, the ability to respect the timeline and meet the expected start-up date, the obtaining of the necessary permits and authorizations, the potential financial benefits for the Company and the environmental and pollution targets. The words "anticipates," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predicts," "project," "should," "would" and similar expressions may identify forward looking statements, but the absence of these words does not mean that a statement is not forward looking. Although management believes the expectations reflected in such forward-looking statements are reasonable, forward-looking statements are based on the opinions, assumptions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Such factors include the risks described in the Management's Discussion and Analysis in the 2019 Annual Report of the Company under the heading "Risk Factors" and to be described in the short form prospectus under the heading "Risk Factors". If any of the assumptions or estimates made by management prove to be incorrect, actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, investors are cautioned not to place undue reliance on such statements. All of the forward-looking information in this press release is qualified by these cautionary statements. The Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Cascades Inc.
Media
Hugo D'Amours
Vice-President, Communications, Public Affairs and Sustainable Development
Cascades
819-363-5164
hugo_damours@cascades.com
Investors
Jennifer Aitken, MBA
Director, Investor Relations
Cascades Inc.
514-282-2697
jennifer_aitken@cascades.com