Delivering regional aviation to the
world
/NOT FOR DISTRIBUTION IN THE UNITED
STATES OR OVER UNITED
STATES WIRE SERVICES/
HALIFAX, March 13, 2018 /CNW/ - Chorus Aviation Inc.
('Chorus') (TSX: CHR) announced today that it has completed its
previously announced bought deal public offering of 11,628,000
common shares of Chorus, which, for greater certainty, means for
Canadian investors, Class B Voting Shares of Chorus, and for
non-Canadian investors, Class A Variable Voting Shares of Chorus
(collectively, the 'Shares') at $8.60
per Share for gross proceeds $100,000,800. RBC Capital Markets and CIBC
Capital Markets acted as joint bookrunners for the offering with a
syndicate that included Scotia Capital Inc., National Bank
Financial Inc., TD Securities Inc., Cormark Securities Inc.,
Canaccord Genuity Corp. and Paradigm Capital Inc.
The underwriters have the option to purchase up to an additional
1,744,200 Shares at $8.60 per Share
to cover over-allotments, if any, and for market stabilization
purposes, during the 30 days following the closing of the offering
(the 'Over-Allotment Option'). The exercise of the Over-Allotment
Option may result in additional gross proceeds of up to
$15,000,120.
The net proceeds of the offering will be used to fund the growth
of Chorus Aviation Capital, Chorus' aircraft leasing business,
including the acquisition of aircraft intended for or currently on
lease to third parties, as well as for working capital requirements
and other general corporate purposes.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any offer,
solicitation or sale of the securities in any province, state or
jurisdiction in which such offer, solicitation or sale would be
unlawful. The Shares 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 applicable exemption from the registration
requirements of the U.S. Securities Act of 1933 and other
applicable securities laws.
About Chorus
Headquartered in Halifax, Nova
Scotia, Chorus was incorporated on September 27, 2010. Chorus' vision is to deliver
regional aviation to the world. Chorus has been leasing its owned
regional aircraft into Jazz's Air Canada Express operation since
2009, and established Chorus Aviation Capital to become a leading,
global provider of regional aircraft leases and support
services. Chorus also owns Jazz Aviation and Voyageur
Aviation – companies that have long histories of safe and solid
operations that deliver excellent customer service in the areas of
contract flying operations, engineering, fleet management, and
maintenance, repair and overhaul. Chorus Class A Variable
Voting Shares and Class B Voting Shares trade on the Toronto Stock
Exchange under the trading symbol 'CHR'. www.chorusaviation.ca
Forward-Looking Information
This news release contains 'forward-looking information' as
defined under applicable Canadian securities legislation.
Forward-looking information is identified by the use of terms and
phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "potential",
"project", "will", "would", and similar terms and phrases,
including references to assumptions. Forward-looking information
involves known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to
differ materially from those expressed in the forward-looking
information. Examples of statements containing forward-looking
information in this news release include the anticipated use of
proceeds, the exercise of the Over-Allotment Option and the
proceeds upon exercise of the Over-Allotment Option. Results
indicated in forward-looking information may differ materially from
actual results for a number of reasons, including those described
in Chorus' Annual Information Form dated February 14, 2018 and Management's Discussion and
Analysis of Results of Operations and Financial Condition dated
February 14, 2018. Statements
containing forward-looking information in this news release are
made as of the date of this news release and Chorus does not
undertake any obligation to publicly update such statements to
reflect new information, subsequent events or otherwise unless
required by applicable securities laws.
SOURCE Chorus Aviation Inc.