Legumex Walker Inc. completes initial public offering and acquisitions

Date Closed: 7/14/2011

Value: C$65 million

On July 14, 2011, Legumex Walker Inc. (the Company) completed its initial public offering (the Offering) of 7,225,000 common shares of the Company (the Shares) at a price of $9.00 per Share for gross proceeds of $65,025,000. The Shares now trade on the Toronto Stock Exchange under the symbol LWP. Concurrently, the Company completed a private placement (the Private Placement) of 555,556 Shares for gross proceeds of $5,000,004.

In connection with the Offering and the Private Placement, the Company purchased all the outstanding shares of Reco Holdings Ltd., which holds all the shares of the Roy Legumex Group of Companies in Manitoba, for Shares and cash consideration with an aggregate value of approximately $27 million; purchased all the outstanding shares of Walker Seeds Ltd. in Saskatchewan for Shares and cash consideration with an aggregate value of approximately $23 million; purchased substantially all the assets of Home Grown Oil, LLC in Washington for Shares and other consideration with an aggregate value of approximately $6 million; and invested $42.1 million in the construction and operation of a canola oilseed processing facility in Warden, Washington.

The Underwriters exercised their over-allotment option on August 11, 2011 to purchase an additional 166,050 Shares. The exercise of the over-allotment option brought the aggregate gross proceeds of the Offering to $66,519,450.

The Offering was made through a syndicate of underwriters led by Cormark Securities Inc., CIBC World Markets Inc., Macquarie Capital Markets Canada Ltd., Scotia Capital Inc. and HSBC Securities (Canada) Inc. (collectively, the Underwriters).

The Company was represented by BLG with a team that included Philippe Tardif, Dolores Di Felice, David Surat, Paul Simon, Habeeb Syed, Vanessa McMinn and Mark Lau (corporate and securities) and Daniel Lang (tax).