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Client Work

Saskatchewan Wheat Pool closes US$317 million subscription receipt offering

Fasken
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Client

Genuity Capital Markets, TD Securities and National Bank Financial

On April 19, 2007, Saskatchewan Wheat Pool Inc. (the "Pool") announced successful completion of the $275,400,000 subscription receipt offering, originally announced on March 29, 2007 (the "Offering"). Genuity Capital Markets, TD Securities Inc. and National Bank Financial Inc., who together acted as underwriters in connection with the Offering, exercised their over-allotment option in full to purchase an additional 5,100,000 subscription receipts at the Offering price of $8.10 per subscription receipt, bringing aggregate proceeds of the Offering to $316,710,000. The Offering, including the exercise of the over-allotment option, provides a portion of the funding necessary for the cash component of the Pool's 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. Fasken Martineau acted for Genuity Capital Markets, TD Securities Inc. and National Bank Financial Inc. in connection with the Offering, with a team led by Jon Levin and including Richard Steinberg and Dan Batista with assistance from students-at-law Jennifer Sloan and Sara Parchello.

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