Canam Group Invests in ADF Group
SAINT-GEORGES, QC, June 9, 2016 /CNW Telbec/ – Canam Group Inc. (TSX: CAM) (“Canam Group” or the “Corporation”) today announced that it has acquired as at June 9th, 2016 ownership of 6,444 subordinate voting shares in ADF Group Inc. (“ADF Group”) (TSX: DRX), located in Terrebonne, Quebec, representing approximately 0.04% of the issued and outstanding subordinate voting shares in this class. Immediately before the transaction that gave rise to this press release, Canam Group held 1,821,400 subordinate voting shares of ADF Group representing approximately 9.96% of the outstanding shares of such class. Following the transaction, Canam Group holds 1,827,844 subordinate voting shares of ADF Group, representing 10.00% of the outstanding shares of such class. The shares were purchased on the secondary market through the Toronto Stock Exchange at an average price of $2.85 per share.
ADF Group is a structural and miscellaneous steel fabricator. ADF Group acts as a subcontractor for the supply of structural steel products on certain Canam Group’s projects.
The shares are held for investment purposes. Canam Group is seeking to confirm its relationship with a premier supplier through the acquisition of an equity participation in its share capital. The Corporation expects to reassess its investment on a continued basis and could, depending on the circumstances, increase or reduce its participation in the share capital of ADF Group.
A copy of the early warning report corresponding to this press release can be obtained from Ginette Gélineau, Communications Department, at 450-641-4000 or on SEDAR at www.sedar.com.
About Canam Group Inc.
Canam Group specializes in designing integrated solutions and fabricating customized products for the North American construction industry. Each year, Canam Group takes part in an average of 10,000 building, heavy steel and bridge projects, which can also include the supply of preconstruction and project management services. The Corporation operates 23 plants across North America and employs close to 4,300 people in Canada, the United States, Romania and India.
SOURCE Canam Group Inc.
For further information: Media inquiries: François Bégin, Vice President, Communications, Canam Group Inc., 418 228-8031 / 418-225-1355 (mobile phone), firstname.lastname@example.org