AltaGas Completes Offering

On June 10, 2004, AltaGas Income Trust completed a bought deal financing, resulting in the issuance of 4,300,00 trust units at $18.70 per trust unit, for aggregate gross proceeds of $80.4 million. The underwriting syndicate was co-led by RBC Dominion Securities Inc. and Clarus Securities Inc. and included BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets Inc., National Bank Financial Inc., Canaccord Capital Corp. and Peters & Co. Limited. The net proceeds of the offering were used to reduce bank indebtedness.

AltaGas was represented by Stikeman Elliott, with a team that included Glenn Cameron, Christopher Nixon and Keith Chatwin (corporate and securities) and David Weekes (tax). The underwriting syndicate was represented by Blake, Cassels & Graydon, with a team that included Pat Finnerty, Ross Bentley, Daniel McLeod, Jeff Bakker, Cam Proctor and Wanda Rumball.