Martinrea International Inc.
TSX : MRE

Martinrea International Inc.

April 05, 2006 08:06 ET

Martinrea to Raise $54,000,000 Through Bought Deal Financing

TORONTO, ONTARIO--(CCNMatthews - April 5, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Martinrea International Inc. (TSX:MRE) today announced that it has entered into an agreement for a $54,000,000 bought deal financing with a syndicate of underwriters led by GMP Securities L.P. and Paradigm Capital Inc. The proceeds from the offering will be used for general corporate and working capital purposes.

A total of 6,000,000 Common Shares will be issued at a price of $9.00 per common share. The underwriters have been granted an over-allotment option to subscribe for up to an additional 900,000 common shares at the offering price for a period of 30 days following the closing date to cover over allotments and for market stabilization purposes. The offering is subject to normal regulatory approvals including approval of the Toronto Stock Exchange and is expected to close on or around April 27, 2006.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Martinrea International Inc.
    Nick Orlando
    President and Chief Financial Officer
    (416) 749-0314
    (905) 264-2937 (FAX)
    30 Aviva Park Drive, Vaughan, Ontario, L4L 9C7