Date closed: 7/8/2015

Value: C$80.6 million

On July 8, 2015, Horizon North Logistics Inc. (Horizon North or the Corporation) completed its bought deal public offering of 21,505,000 common shares of the Corporation at a price of $3.75 per share, which includes 2,805,000 common shares issued pursuant to the exercise in full of the overallotment option, for gross proceeds of approximately C$80.6 million (the Offering).

The syndicate of underwriters was led by Peters & Co. Limited and included National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., AltaCorp Capital Inc., Clarus Securities Inc., Cormark Securities Inc., FirstEnergy Capital Corp., GMP Securities L.P. and Raymond James Ltd.

The net proceeds received by Horizon North from the Offering were used to initially reduce indebtedness and, thereafter, to partially fund Horizon North's ongoing capital expenditure program and for general corporate purposes. 

Horizon North, headquartered in Calgary, Alberta, is a remote resource development company.

BLG represented Horizon North with a team led by Steve G. Pearson, Jonathan Poirier and Peter Newman.