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Press release from CNW Group


Thursday, October 21, 2010

CANAM GROUP INC. ANNOUNCES COMPLETION OF PREVIOUSLY DISCLOSED $69 MILLION PUBLIC OFFERING OF CONVERTIBLE DEBENTURES08:39 EDT Thursday, October 21, 2010 BOUCHERVILLE, QC, Oct. 21 /CNW Telbec/ - Canam Group Inc. (the "Company") (TSX: CAM) announced today that it has completed its previously announced public offering of convertible unsecured subordinated debentures with an interest rate of 6.25% per annum, payable semi-annually on the last day of April and October commencing on April 30, 2011 (the "Debentures"). The Debentures will mature on October 31, 2015. The Debentures are convertible at the holder's option into common shares of the Company at a conversion price of $12.00 per common share and may be redeemed by the Company in certain circumstances on and after October 31, 2013. The offering was underwritten on a "bought deal" basis by a syndicate of underwriters led by BMO Capital Markets and National Bank Financial Inc. and which included GMP Securities L.P., Raymond James Ltd. and Desjardins Securities Inc. As a result of the exercise on closing of the over-allotment option granted to the underwriters, the total gross proceeds of the offering were $69 million. Approximately all of the net proceeds of the offering will be used to repay indebtedness of the Company and the balance of the net proceeds, if any, will be used for general corporate purposes. The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended, or any states securities laws and may not be offered or sold in the United States or to U.S. persons absent registration or applicable exemption from the registration requirement of such act or any applicable states securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. About Canam Group Inc. Canam Group is a leader in the design and fabrication of construction products and solutions and a leading provider of design-build and building information modeling (BIM) services. The company operates more than 25 manufacturing plants and engineering offices in Canada, the United States, Romania, India and China, and has partnerships with companies in Saudi Arabia, the United Arab Emirates and China. The information in this press release includes certain forward-looking statements. These "forward-looking" statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. In addition to general global events outside of the Company's control, there are factors which could cause actual results, performance or achievements to vary from those expressed or inferred herein including the risks associated with the ability to satisfy regulatory and commercial closing conditions to the offering, the uncertainty associated with accessing capital markets and the risks associated with the Company's business. Risk factors are discussed in greater detail in the section on "Risk Factors" in the Annual Information Form of the Company filed on March 15, 2010 and available at Forward-looking statements include information concerning possible or assumed future results of operations or financial position of the Company, as well as statements preceded by, followed by, or that include the words "believes", "expects", "anticipates", "estimates", "projects", "intends", "should" or similar expressions. Important factors, in addition to those discussed in this press release, could affect the future results of the Company and could cause those results to differ materially from those expressed in any forward-looking statements. To view this news release in HTML formatting, please use the following URL: further information: <p>Charles Pinel<br/> Vice President and Chief Financial Officer<br/> Tel.: 418 228-8031<br/> Email: <a href=""></a><br/> <a href=""></a></p>