Ivaco Redeems $95M of Shares and Sells Dofasco Shares

Ivaco Inc. announced on July 12, 2002 that it had redeemed $95 million of its exchangeable second preferred shares, series 4 using the proceeds of the sale of 2,969,566 common shares of Dofasco Inc. to a syndicate of investment dealers comprising Scotia Capital Inc., National Bank Financial Inc. and CIBC World Markets Inc.

Ivaco was represented by Berl Nadler, Tom Smee, Mindy Gilbert and Melanie Koszegi of Davies Ward Phillips & Vineberg LLP. The purchasing investment dealers were represented by Joel Binder, Bruce Blain, Anil Aggarwal and Kevin Clinton of Fasken Martineau DuMoulin LLP in Toronto.