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Press release from CNW Group

Aecon announces closing of the over-allotment option associated with its recently completed public offering of convertible debentures

Monday, December 02, 2013

Aecon announces closing of the over-allotment option associated with its recently completed public offering of convertible debentures

08:07 EST Monday, December 02, 2013

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./

TORONTO, Dec. 2, 2013 /CNW/ - Aecon Group Inc. ("Aecon" or the "Company") (TSX: ARE) today announced that it has successfully closed the issuance of an additional $22.5 million aggregate principal amount of 5.50% convertible unsecured subordinated debentures due December 31, 2018 (the "Debentures") pursuant to the full exercise of the over-allotment option granted to the syndicate of underwriters led by TD Securities Inc. and GMP Securities L.P. in connection with the Company's recent public offering of $150 million aggregate principal amount of Debentures that closed on November 27, 2013, bringing the total aggregate gross proceeds from the offering to $172.5 million.

The securities offered have not been and will not be 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 such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

ABOUT AECON
Aecon Group Inc. is a Canadian leader in construction and infrastructure development providing integrated turnkey services to private and public sector clients. Aecon is pleased to be consistently recognized as one of the Best Employers in Canada.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release includes certain forward-looking statements with respect to the Company and the offering of Debentures which are necessarily based on a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant risks, uncertainties, and contingencies.  These "forward-looking" statements are based on currently available information but are subject to risks and uncertainties. In addition to general global events outside Aecon's control, there are factors which could cause actual results, performance or achievements to vary from those expressed or inferred herein including risks associated with the risks related to Aecon's business. Risk factors are discussed in greater detail in the section on "Risk Factors" in the Company's Annual Information Form filed on March 27, 2013 and available at www.sedar.com. Forward looking statements, may in some cases be identified by words such as "will," "plans," "believes," "expects," "anticipates," "scheduled," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Aecon Group Inc.

For further information:

Vince Borg
Senior Vice President,
Corporate Affairs
Aecon Group Inc.
416-297-2615
vborg@aecon.com
www.aecon.com

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