Stella-Jones Agrees on the Terms of Proposed Private Placement.WESTMOUNT, Quebec “Westmount” redirects here. For other uses, see Westmount (disambiguation). Westmount is a city in southwestern Quebec, Canada on the Island of Montreal, an enclave of the city of Montreal; pop. 20,494; area 4.02 km²; (Statistics Canada, 2006). -- - Private equity placement worth $5 million CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. - Proceeds to partially finance pending U.S. acquisition Stella-Jones Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :SJ) announced today that it has entered into a subscription agreement with its majority shareholder Stella Jones International S.A. ("SJ International") for a proposed private equity placement consisting of the issuance of 555,556 common shares of the Company at a price of $9.00 per common share.Following the private placement, SJ International will own 6,910,556 common shares of Stella-Jones' outstanding common shares, or 63.9%, on an undiluted basis.The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has accepted notice of the proposed private placement and has conditionally approved the listing of additional common shares of the Corporation. The proceeds generated by the private placement will be utilized to partially finance the previously announced pending acquisition of Webster Wood Preserving Company, A Minnesota Limited Partnership ("Webster"), a privately held producer and marketer of pressure treated wood treated wood Toxicology Wood impregnated with preservatives–eg, chromium-copper-arsenate, creosote, inorganic arsenicals, pentachlorophenol, to ↑ its useful life, thwarting insects, fungi, etc; chronic exposure to the fumes of burning wood or skin railway ties based in Bangor, Wisconsin
Bangor is a village in La Crosse County, Wisconsin, United States, along the La Crosse River. , USA ("Webster Acquisition"). The Webster Acquisition will be made through the Company's wholly owned US subsidiary, Stella-Jones Corporation. The closing of the private placement is subject to the closing of the Webster Acquisition. ABOUT STELLA-JONES Stella-Jones Inc. (TSX: SJ) is a leading Canadian producer and marketer of industrial structures and support components produced with pressure treated wood products, specializing in the production of treated wood poles supplied to electrical utilities and telecommunications companies See telecom company. on both a national and international basis.Other principal products include railway ties, marine and foundation pilings, construction timbers, highway guardrail posts and treated wood for bridges. The Company also specializes in providing customized services to lumber lumber, term for timber that has been cut into boards for use as a building material. The major steps in producing lumber involve logging (the felling and preparation of timber for shipment to sawmills), sawing the logs into boards, grading the boards according to companies and wholesalers for the treatment of consumer lumber products for outdoor applications.The Company's common shares are listed on the Toronto Stock Exchange. Visit our website: www.stella-jones.com Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results. STELLA-JONES INC. (TSX:SJ) |
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