On March 12, 2002, Co-Steel Inc., one of the world's largest mini mill steel producers, successfully completed its sale of 20.907 million common shares at $3.35 per share for gross proceeds of $70,038,450. The underwriting syndicate was led by BMO Nesbitt Burns Inc., and included CIBC World Markets Inc., TD Securities Inc. and Scotia Capital Inc. The net proceeds of the sale were used to reduce Co-Steel's indebtedness.

Jon Levin and Aaron Atkinson of Fasken Martineau acted for the underwriting syndicate.