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Client Work

Saskatchewan Wheat Pool closes US$225 million subscription receipt offerings

Fasken
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Client

Genuity Capital Markets and TD Securities

On February 15, 2007, Saskatchewan Wheat Pool Inc. (the "Pool") announced the successful closing of its $225 million subscription receipt offerings, originally announced on January 25, 2007. The subscription receipt offerings, comprised of a public offering, on a "bought deal" basis, and a private placement, provided the funding necessary for the cash component of the Pool's revised offer to purchase all of the outstanding limited common voting shares of United Grain Growers, carrying on business as Agricore United, pursuant to the Pool's take-over bid circular dated November 24, 2006, as amended by its notice of variation and extension dated January 31, 2007. The public offering raised aggregate gross proceeds of approximately $100 million, with the private placement raising an additional $125 million of aggregate gross proceeds. Fasken Martineau acted for Genuity Capital Markets and TD Securities Inc., as underwriters in respect of the public offering and agents in respect of the private placement, with a team led by Jon Levin and including Richard Steinberg, Daniel Batista and Michael Gleeson, with the assistance of students-at-law Jennifer Sloan and Alex Nikolic.

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