Martinrea International Inc.

Martinrea International Inc.

June 25, 2009 09:33 ET

Martinrea International Inc. Announces Closing of $55,775,000 Financing

TORONTO, ONTARIO--(Marketwire - June 25, 2009) -


Martinrea International Inc. (the "Company" or "Martinrea") (TSX:MRE), a leader in the production of quality metal parts, assemblies and modules and fluid management systems focused primarily on the automotive sector, announced today that it closed its previously-announced private placement with a syndicate of underwriters led by GMP Securities L.P. and including Paradigm Capital Inc. and TD Securities Inc., pursuant to which Martinrea issued 11,500,000 common shares (including 1,500,000 common shares pursuant to the exercise, in full, of the underwriters' option) at a price of $4.85 per common share for aggregate gross proceeds of $55,775,000.

The common shares will be subject to resale restrictions for a period of four months from the closing date under applicable securities legislation.

The net proceeds from the Offering will be used by Martinrea for working capital and for general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless an exemption from such registration is available.

The common shares of Martinrea trade on The Toronto Stock Exchange under the symbol "MRE".

This press release contains forward-looking statements within the meaning of applicable Canadian securities laws including statements relating to the proposed financing and use of proceeds therefrom. The words "expect", "anticipate", "estimate", "may", "will", "should", "intend", "believe", "plan" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. Many factors could cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including, without limitation, those risks and uncertainties as set out under the heading "Risks and Uncertainties" in the Company's Management Discussion and Analysis dated May 7, 2009 and those risks and uncertainties as set forth in the Company's Annual Information Form and other public filings which can be found at Actual results may differ materially from those currently anticipated. Except as required by law, the Company has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements.

Contact Information

  • Martinrea International Inc.
    Nick Orlando
    President and Chief Financial Officer
    (416) 749-0314
    (905) 264-2937 (FAX)