Canada 3000 Completes $30 Million IPO

On July 13, 2000, Canada 3000 Inc., Canada’s second largest scheduled air carrier, completed an initial public offering of 3 million common shares at a price of $10 per share, for gross proceeds of $30 million. The underwriters have an option to purchase up to an additional 375,000 common shares at $10 each.

Cassels Brock & Blackwell LLP in Toronto acted for Canada 3000 with a team that included Tom Koutoulakis and Howard Burshtein. Canada 3000’s legal team also included Edwin Nobbs of Nobbs, Woods, Kavanagh & Bateman in respect of airline regulatory matters, Kent Kufeldt of Macleod Dixon in Alberta in respect of corporate matters and Grant Vingoe of Dorsey Whitney LLP in New York in respect of US matters. Blake, Cassels & Graydon LLP in Toronto acted for the underwriters CIBC World Markets Inc., BayStreetDirect Financial Services Inc., HSBC Securities (Canada) Inc. and Yorkton Securities Inc. with a team that included Jeff Glass, Anoop Dogra, Mario Josipovic and Robyn Keinick.