/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES/
MISSISSAUGA, ON, Feb. 5, 2021 /CNW/ - Cargojet Inc.
("Cargojet" or the "Corporation") (TSX: CJT) is pleased to announce
the successful closing of the issue and sale of an additional
71,500 common voting shares ("Common Voting Shares") and/or
variable voting shares ("Variable Voting Shares" and, together with
the Common Voting Shares, the "Shares") of Cargojet at a price of
C$213.25 per Share (the "Offering
Price") for aggregate gross proceeds to Cargojet of C$15,247,375 pursuant to the partial exercise of
the over-allotment option granted to the syndicate of underwriters,
co-led by Scotiabank, CIBC Capital Markets, RBC Capital Markets,
J.P. Morgan Securities Canada Inc., Morgan Stanley Canada Limited
and BMO Capital Markets, in connection with the Corporation's
recently completed $350 million
bought deal equity offering (the "Offering").
Together with the Shares issued on February 1, 2021, Cargojet will have issued a
total of 1,713,500 Shares pursuant to the Offering for aggregate
gross proceeds to Cargojet of C$365,403,875.
The Offering was made pursuant to a final short form prospectus
dated January 25, 2021 (the
"Prospectus"), and the Shares are traded on the Toronto Stock
Exchange under the symbol "CJT".
As further described in the Prospectus, the Company intends to
apply the net proceeds of the Offering to purchase freighter
aircraft, expand domestic capacities and facilities, pursue U.S.
and international growth strategy and repay indebtedness.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, nor shall there be any sale
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities issued
pursuant to the Offering have not been, and will not be registered
under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act") or under any U.S. state securities laws, and may
not be offered or sold in the United
States or to, or for the account or benefit of, U.S.
persons, absent registration or an applicable exemption from the
registration requirements of the U.S. Securities Act and applicable
state securities laws.
About Cargojet
Cargojet is Canada's leading
provider of time sensitive premium air cargo services to all major
cities across North America,
providing Dedicated ACMI and International Charter services and
carries over 25,000,000 pounds of cargo weekly. Cargojet operates
its network with its own fleet of 27 Cargo aircraft. For further
information, please contact:
Pauline
Dhillon
Chief Corporate Officer
Tel: (905) 501-7373
pdhillon@cargojet.com
Notice on Forward-Looking Statements:
Certain statements contained herein, including statements
related to the use of the net proceeds from the closing of the
over-allotment option, constitute "forward-looking statements".
Forward-looking statements look into the future and provide an
opinion as to the effect of certain events and trends on the
business. Forward looking statements may include words such as
"plans", "intends", "anticipates", "should", "estimates",
"expects", "believes", "indicates", "targeting", "suggests" and
similar expressions. These forward-looking statements are based on
current expectations and entail various risks and uncertainties.
Reference should be made to the issuer's public filings available
at www.sedar.com and at www.cargojet.com, including its most recent
Annual Information Form filed with the Canadian securities
regulators, its most recent Consolidated Financial Statements and
Notes thereto and related Management's Discussion and Analysis
(MD&A), and the final short form prospectus filed in connection
with the Offering, for a summary of material risks. These risks are
not intended to represent a complete list of the risks that could
affect the issuer; however, these risks should be considered
carefully. Actual results may materially differ from expectations,
if known and unknown risks or uncertainties affect our business, or
if our estimates or assumptions prove inaccurate. The
forward-looking statements contained herein describe the issuer's
expectations at the date of this news release and, accordingly, are
subject to change after such date. The issuer assumes no obligation
to update or revise any forward-looking statement, whether as a
result of new information, future events or any other reason, other
than as required by applicable securities laws. In the event the
issuer does update any forward-looking statement, no inference
should be made that the issuer will make additional updates with
respect to that statement, related matters, or any other
forward-looking statement. Readers are cautioned not to place undue
reliance on these forward-looking statements.
SOURCE Cargojet Inc.