Lassonde Industries Inc.
TSX : LAS.A

July 25, 2011 16:04 ET

Lassonde Industries Inc. to Raise Approximately $30 Million Through Private Placement of Subscription Receipts

ROUGEMONT, QUEBEC--(Marketwire - July 25, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Lassonde Industries Inc. (TSX:LAS.A) announced today that it has engaged BMO Capital Markets, as sole placement agent, to sell, by way of private placement, approximately $30 million of subscription receipts.

The net proceeds of the offering will be used by Lassonde Industries to partially fund its acquisition of a controlling interest in Clement Pappas and Company, Inc. The subscription receipts will be automatically exchanged on a one-to-one basis for Class A subordinate voting shares of Lassonde Industries, without any further action on the part of the holder thereof and without payment of any additional consideration, upon closing of the acquisition of a controlling interest in Clement Pappas and Company, Inc. The net proceeds from the private placement will be placed in escrow with a trust company pending the closing of the acquisition.

Completion of the private placement is subject to customary closing conditions for transactions of this nature, including the approval of the Toronto Stock Exchange. It is anticipated that closing of the private placement will occur on or about August 5, 2011.

This news release shall not constitute an offer to sell nor the solicitation of an offer to buy nor shall there be any sale of any securities of Lassonde Industries in any jurisdiction in which such offer, solicitation or sale would be unlawful. The subscription receipts will be offered on a private placement basis in Canada and only to accredited investors as such term is defined under applicable Canadian securities laws.

THE SECURITIES WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES.

About Lassonde Industries Inc.

Lassonde Industries develops, manufactures and markets an innovative and distinctive line of fruit and vegetable juices and drinks as well as specialty food products such as fondue broth and sauces, soups, gravies, canned corn-on-the-cob, bruschetta toppings, tapenades, pestos and sauces for pasta and pizza. Lassonde Industries imports selected wines from several countries of origin for packaging and marketing purposes. It also imports olive oil. Nearly 1,300 employees contribute to the Company's growth and to offering quality products to customers. The Class A subordinate voting shares of Lassonde Industries Inc. are listed on the TSX.

Website: www.lassonde.com

SEDAR registration number: 00002099

Caution Concerning Forward-Looking Statements

This press release contains forward-looking statements that are based on certain assumptions. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Additional factors are discussed in materials filed from time to time with the securities regulatory authorities in Canada. Lassonde Industries Inc. disclaims any intention or obligation to update or revise any forward-looking statements except as required by law.

Contact Information

  • Investor contact
    Lassonde Industries Inc.
    Guy Blanchette, CA, CMA
    Vice-President and Chief Financial Officer
    450-469-4926, extension 10782

    Media contact
    Lassonde Industries Inc.
    Stefano Bertolli
    Vice-President Communications
    450-469-4926, extension 10265