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Press release from CNW Group

Bennett Environmental Inc. Completes $25 Million Bought Deal Offering

Friday, May 07, 2010

Bennett Environmental Inc. Completes $25 Million Bought Deal Offering09:33 EDT Friday, May 07, 2010/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/TORONTO, May 7 /CNW/ - Bennett Environmental Inc. ("Bennett") (TSX: BEV) today announced that it has completed its previously announced bought deal financing, with a syndicate of underwriters led by Jennings Capital Inc. and including Cormark Securities Inc. Under the amended terms of the financing announced on April 15, 2010, Bennett issued a total of 8,196,722 units (the "Units"), each Unit consisting of one common share and one-half of one common share purchase warrant, at a price of CDN$3.05 per Unit for gross proceeds of $25 million. Each whole common share purchase warrant entitles the holder to purchase one common share of Bennett at a price of $3.75 until 5:00 p.m. on May 7, 2012. Bennett has applied to list the warrants on the Toronto Stock Exchange, subject to compliance with regulatory requirements.The underwriters have also been granted an over-allotment option to purchase up to an additional 1,229,508 Units, exercisable at any time, in whole or in part, up to 30 days from the closing of the Offering.The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.About BennettBennett Environmental Inc. is a North American leader in high temperature treatment services for the treatment of contaminated soil and has provided thermal solutions to contamination problems throughout Canada and the U.S. Bennett Environmental's technology provides for the safe, economical and permanent solution to contaminated soil. Independent testing has consistently proven that the technology operates well within the most stringent criteria in North America. For information, please visit the Bennett Environmental website at: further information: Jack Shaw, Bennett Environmental Inc., (905) 339-1540