December 17, 2009
CanWel Building Materials Income Fund (TSX:CWX.UN) completed a bought deal private placement of 15,131,700 subscription receipts at a price of $3.80 per subscription receipt for gross proceeds of approximately $57.5 million. Subject to the satisfaction of certain conditions, including unitholder approval of the private placement, each subscription receipt will entitle the holder to receive one unit of CanWel, without further payment or action on the part of the holder, immediately prior to the completion of CanWel’s conversion into a dividend paying corporation and acquisition of Broadleaf Logistics Company.
GMP Securities L.P. acted as the underwriter for the private placement. Wildeboer Dellelce LLP represented the underwriter with a team that included Troy Pocaluyko, James Brown, Alexandra Vazquez and Nancy Son-Wilkening (corporate/securities) and Kevin Fritz (tax).