RONA Completes New Issue and Offering of Shares

On May 21, 2003, RONA completed a new issue and secondary offering of 11,183,572 common shares for total gross proceeds of approximately $190 million. As part of the offering, one of RONA’s major shareholders, ITM Entreprises SA, sold 3,413,572 common shares. The net proceeds from the treasury offering will be used to finance the acquisition of Réno-Dépôt Inc.

RONA was represented by in-house counsel France Charlebois, and by Ogilvy Renault with a team that included Renaud Coulombe and Natalie Brown (equity financing) and Jules Charette (tax). ITM Entreprises was represented by Sylvain Cossette and Alain Roberge of Davies Ward Phillips & Vineberg LLP. The underwriters were represented by Fasken Martineau DuMoulin LLP, with a team that included Robert Paré, Gilles Leclerc, Jean-Pierre Chamberland and François-Bernard Poulin.