Maple Leaf Completes Common Share Bought Deal

On December 20, 2004, Maple Leaf Foods Inc. completed a public offering of 11,340,000 common shares at $14.55 per share for aggregate net proceeds of approximately $161.5 million.

The underwriters were led by RBC Dominion Securities Inc. and included BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc. The offering was sold to investors in Canada.

The net proceeds from the offering will be used primarily to refinance debt incurred in connection with the recent acquisition of Schneider Corp., to redeem outstanding convertible debentures for cash and to pay down debt.

Maple Leaf Foods was represented by Osler, Hoskin & Harcourt LLP with a team led by Donald Ross, Donald Gilchrist, Alexis Gosselin and Joseph Cosentino, as well as Julie Colden on tax matters.

The underwriters were represented by Stikeman Elliott LLP with a team led by Brian Pukier, Quentin Markin and Vivian Leung.