North American Energy Partners Inc. completes C$60 million bought deal secondary offering

Closing Date: 6/10/2014

Value: C$60 million

On June 10, 2014, North American Energy Partners Inc. (NAEP or the Company), announced that HGI Funding LLC (HGI Funding) and Front Street Re (Cayman) Ltd (Front Street and together with HGI Funding, the Selling Shareholders) completed a bought deal secondary offering of an aggregate of 7,032,322 common shares of the Company (Common Shares) of which 1,486,036 Common Shares were sold by HGI Funding and 5,546,286 Common Shares were sold by Front Street at a price of C$8.55 per Common Share for aggregate gross proceeds to the Selling Shareholders of C$60,126,353.

The secondary offering was led by GMP Securities L.P., as lead underwriter, with a syndicate that included Dundee Securities Ltd., BMO Capital Markets and Raymond James Ltd.

NAEP, headquartered in Edmonton, Alberta, is one of the largest providers of heavy construction and mining services in Western Canada.

BLG represented NAEP with a team that included Gordon Raman, David Surat, Katherine Schuck and Daniel Lang.