Assante Completes Private Placement

Assante Corporation completed a private placement of 8.05 million special warrants on December 20, 2001. At $6.35 per warrant, the private placement yielded aggregate gross proceeds of approximately $51 million for the Winnipeg-based financial services provider. Financing was underwritten by CIBC World Markets Inc. As part of the underwriting, certain shareholders issued and sold 1.4 million special warrants to CIBC World Markets that were also privately placed with purchasers.

Ceci Gorlick, associate counsel, Assante, directed Simon Romano and Greg Hogan of Stikeman Elliott in the transaction. The CIBC World Markets team was led by Bob Richardson, vice-president, associate general counsel and group head, assisted by Phil Brown, Glen Johnson and Jennifer Soward of Torys LLP. Barry McGee and Chris Hewat of Blake, Cassels & Graydon LLP advised one of the selling shareholders, and Anthony Carbone of New York’s Bingham Dana LLP advised the remaining selling shareholders.