Altus Group Limited
TSX : AIF

Altus Group Limited

April 19, 2012 09:15 ET

Altus Group Completes C$48 Million Convertible Debenture Offering

TORONTO, ONTARIO--(Marketwire - April 19, 2012) - Altus Group Limited ("Altus" or the "Company") (TSX:AIF) is pleased to announce that it has completed its offering of 6.75% convertible unsecured subordinated debentures due June 30, 2017 (the "Debentures") at a price of $1,000 per Debenture for total gross proceeds of $48,000,000 (the "Offering").

The Offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters comprised of BMO Capital Markets, as lead manager and sole bookrunner, CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., Canaccord Genuity Corp. and HSBC Securities (Canada) Inc. The Debentures have been listed on the TSX under the symbol AIF.DB.A. As previously announced, on or before May 1, 2012, the Company will use the net proceeds of the Offering to acquire and repay in full the outstanding convertible debentures issued to vendors of the Argus business in connection with Altus' indirect acquisition of Realm Solutions, Inc. in June, 2011.

About Altus Group Limited

Altus leads the global real estate industry in offering professional real estate advisory services, data solutions and intelligence about an organization's assets, generating a wealth of knowledge and insight. With a staff of over 1,700, Altus has a network of over 60 offices in 14 countries worldwide, including Canada, the United Kingdom, Australia, Asia and the United States. We operate five interrelated Business Units, bringing years of experience and a broad range of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Realty Tax Consulting, Geomatics and ARGUS Software. Altus╩╣ clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.

Forward-Looking Information

Certain of the statements made and information contained in this press release may contain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including the Company's expected use of proceeds from the Offering. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties). Many of these assumptions are based on factors and events that are not within the control of Altus and there is no assurance they will prove to be correct. In addition, there are numerous risks associated with an investment in the Debentures, or common shares of the Company, which are further described in the "Risk Factors" section of our annual information form dated March 30, 2012, the final short form prospectus dated April 12, 2012 in respect of the Offering and our other public filings available online at www.sedar.com. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Altus undertakes no obligation to update forward-looking information except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties. The reader is cautioned not to place undue reliance on forward-looking information.

A final short form prospectus containing important information relating to the Offering was filed in all the provinces and territories of Canada. A copy of the final short form prospectus is available online at www.sedar.com.

The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended, or any states securities laws and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements of such act or any applicable states securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

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