TransForce Inc. Completes $41.2 Million Bought-Deal Equity Financing and $8.3 Million Concurrent Private Placement
Over-allotment option exercised in full by underwriters
Montreal, August 13, 2009 – TransForce Inc. (TSX: TFI) announced today that it has completed
its previously announced bought-deal public offering by issuing 7,040,000 common shares, at a
price of $5.85 per share, for gross proceeds to TransForce of $41,184,000.
The 7,040,000 common shares were sold to a syndicate of underwriters co-led by National Bank
Financial Inc. and Scotia Capital Inc., acting as joint book-runners, and including BMO Capital
Markets, RBC Dominion Securities Inc. and Cormark Securities Inc. The 7,040,000 shares sold
today included 640,000 shares issued by TransForce upon the exercise in full by the underwriters of
an over-allotment option, solely to cover over-allotments and for market stabilization purposes.
TransForce also announced today that it has completed its previously announced private placement
with Jolina Capital Inc., its principal shareholder, pursuant to which Jolina purchased, concurrent
with the closing of the bought-deal offering, a further 1,423,840 common shares from TransForce in
order to maintain its ownership level of the outstanding shares of TransForce of approximately
16.82%. Jolina purchased the shares at the bought-deal offering price of $5.85 per share, for
proceeds to TransForce of $8,329,464.
The net proceeds of the offering and concurrent private placement to Jolina will be used by
TransForce to reduce indebtedness and for general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any
securities in any jurisdiction. The shares offered have not been and will not be registered under the
U.S. Securities Act of 1933 or state securities laws. Accordingly, the shares may not be offered or
sold to U.S. persons except pursuant to applicable exemptions from registration.