Innovative Composites International closes financing for US$10.05 million

On December 15, 2011, high tech engineering and manufacturing company Innovative Composites International Inc. closed a prospectus bought deal offering of 13,400,000 common shares at a price of $0.75 per common share, for aggregate gross proceeds of $10.05 million. The offering was conducted through a syndicate of underwriters co-led by Canaccord Genuity Corp. and Clarus Securities Inc., and including Raymond James Ltd., Cormark Securities Inc. and Union Securities Ltd. The underwriters were advised by a team of Fasken Martineau lawyers that included Georges Dubé, Alex Nikolic and Jeffrey Gebert (securities) and Kevin Holbeche and Leanne Gleeson (IP).