On May 7, 2010, Bennett Environmental Inc. (TSX: BEV) announced that it had completed its previously announced bought deal financing, with a syndicate of underwriters led by Jennings Capital Inc. and including Cormark Securities Inc. Under the amended terms of the financing announced on April 15, 2010, Bennett issued a total of 8,196,722 units for gross proceeds of $25 million. Each whole common share purchase warrant entitles the holder to purchase one common share of Bennett at a price of $3.75 until 5:00 p.m. on May 7, 2012. Bennett has applied to list the warrants on the Toronto Stock Exchange, subject to compliance with regulatory requirements. The underwriters have been granted an over-allotment option to purchase up to an additional 1,229,508 Units, exercisable at any time, in whole or in part, up to 30 days from the closing of the offering. The underwriters were advised by Fasken Martineau with a team that included Rob Mason, Amanda Fullerton, Michael Shour and Laura Fetter (corporate/securities), Mitchell Thaw (tax), assisted by student-at-law Sébastien Kwidzinski.