Co-Steel Closes Offering of Shares

Co-Steel Inc., one of the world’s largest mini mill steel producers, successfully completed its sale of 20.907 million common shares at $3.35 per share for gross proceeds of $70,038,450 on March 12, 2002. The underwriting syndicate was led by BMO Nesbitt Burns Inc., and included CIBC World Markets Inc., TD Securities Inc. and Scotia Capital Inc. The net proceeds of the sale of common shares were used to reduce Co-Steel’s indebtedness.

Co-Steel was represented by Goodmans LLP, with a team that included Tim Heeney, David Weinberger and Tara Parker. Acting for the underwriting syndicate were Jon Levin and Aaron Atkinson of Fasken Martineau DuMoulin LLP.