Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the
Company”), a leading Canadian producer of hot and cold rolled steel
sheet and plate products, announced today that it has filed a base
shelf prospectus dated June 21, 2023 (the “
Base Shelf
Prospectus”) with the Ontario Securities Commission,
relying on the “well-known seasoned issuer” exemption, and a
corresponding shelf registration statement on Form F-10 (the
“
Registration Statement”) with the United States
Securities and Exchange Commission (the “
SEC”).
These filings will allow the Company, if it chooses, to make
offerings of common shares, preferred shares, debt securities,
subscription receipts, units and warrants (collectively, the
“
Securities”) of the Company, or any combination
thereof, in all of the provinces and territories of Canada (other
than Quebec) and in the United States for a period of 25 months.
The Company has filed the Base Shelf Prospectus
and Registration Statement to maintain financial flexibility, but
has no present intention to pursue a capital raise in the near
future. The Company does intend to use the Registration Statement
for the potential exercises of currently outstanding warrants of
the Company and the potential resale of certain securities of the
Company that had previously been registered for
resale. There is no certainty any Securities will
be sold under the Base Shelf Prospectus and/or Registration
Statement within the 25-month effective period.
This news release does not constitute an offer
to sell or the solicitation of an offer to buy securities in any
jurisdiction where the offer, sale or solicitation would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. A copy of the Base Shelf
Prospectus can be found under Algoma’s profile on SEDAR at
www.sedar.com and a copy of the Registration Statement can be found
on the SEC’s EDGAR website at www.sec.gov, or such documents may be
obtained from Algoma at IR@algoma.com.
The Toronto Stock Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
news release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein.
Forward-Looking Information
This press release contains “forward-looking
information” and “forward-looking statements” (collectively,
“forward-looking information”) within the meaning of applicable
Canadian and United States securities laws, including statements
regarding potential future market opportunities, the potential
future issuance of Securities under the Base Shelf Prospectus and
Registration Statement, including with respect to the exercise of
warrants and resale of securities thereunder. In some cases,
forward-looking information can be identified by the use of
forward-looking terminology such as “believe,” “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “design,” “pipeline,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. In addition, any statements that refer to
expectations, intentions, projections or other characterizations of
future events or circumstances contain forward-looking information.
Statements containing forward-looking information are not
historical facts but instead represent management’s expectations,
estimates and projections regarding future events or
circumstances.
This forward-looking information is based on our
opinions, estimates and assumptions that, while considered by the
Company to be appropriate and reasonable as of the date of this
press release, are subject to known and unknown risks,
uncertainties, assumptions and other factors that may cause the
actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such
forward-looking information, including but not limited to, risks
related to the offering or sale of securities pursuant to the Base
Shelf Prospectus and Registration Statement, the completion of the
transactions contemplated in this news release in the manner
anticipated and those factors discussed in greater detail under the
“Risk Factors” section in the Base Shelf Prospectus and
Registration Statement and our annual information form and Form
40-F for the fiscal year ended March 31, 2023, which are available
under our profile on SEDAR at www.sedar.com and the SEC’s EDGAR
website at www.sec.gov, and should be considered carefully by
prospective investors.
If any of these risks or uncertainties
materialize, or if the opinions, estimates or assumptions
underlying the forward-looking information prove incorrect, actual
results or future events might vary materially from those
anticipated in the forward-looking information. Although we have
attempted to identify important risk factors that could cause
actual results to differ materially from those contained in
forward-looking information, there may be other risk factors not
presently known to us or that we presently believe are not material
that could also cause actual results or future events to differ
materially from those expressed in such forward-looking
information. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. No
forward-looking statement is a guarantee of future results.
Accordingly, you should not place undue reliance on forward-looking
information, which speaks only as of the date made. The
forward-looking information contained in this press release
represents our expectations as of the date specified herein, and
are subject to change after such date. However, we disclaim any
intention or obligation or undertaking to update or revise any
forward-looking information whether as a result of new information,
future events or otherwise, except as required under applicable
securities laws.
All of the forward-looking information contained
in this press release is expressly qualified by the foregoing
cautionary statements.
About Algoma Steel Group Inc.
Based in Sault Ste. Marie, Ontario, Canada,
Algoma is a fully integrated producer of hot and cold rolled steel
products including sheet and plate. Driven by a purpose to build
better lives and a greener future, Algoma is positioned to deliver
responsive, customer-driven product solutions to applications in
the automotive, construction, energy, defense, and manufacturing
sectors. Algoma is a key supplier of steel products to customers in
North America and is the only producer of discrete plate products
in Canada. Its state-of-the-art Direct Strip Production Complex
(“DSPC”) is one of the lowest-cost producers of hot rolled sheet
steel (HRC) in North America.
Algoma is on a transformation journey,
modernizing its plate mill and adopting electric arc technology
that builds on the strong principles of recycling and environmental
stewardship to significantly lower carbon emissions. Today Algoma
is investing in its people and processes, working safely, as a team
to become one of North America's leading producers of green
steel.
As a founding industry in their community,
Algoma is drawing on the best of its rich steelmaking tradition to
deliver greater value, offering North America the comfort of a
secure steel supply and a sustainable future as your partner in
steel.
For further information:
Mike Moraca Treasurer and Investor Relations Officer Algoma
Steel Inc. Phone: 705.945.3300 E-mail: IR@algoma.com
Algoma Steel (NASDAQ:ASTL)
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Algoma Steel (NASDAQ:ASTL)
過去 株価チャート
から 6 2023 まで 6 2024