Lonestar Closes Financing

Lonestar West Inc. (TSX VENTURE:LSI) ("Lonestar" or the "Company") is pleased to
announce that it has closed its previously announced bought deal financing (the
"Offering") of 6,061,000 common shares ("Common Shares") of the Company at a
price of $3.30 per Common Share for aggregate gross proceeds of $20,001,300. The
Offering was underwritten by a syndicate of underwriters co-led by National Bank
Financial Inc. and Clarus Securities Inc. and including Industrial Alliance
Securities Inc. (collectively, the "Underwriters"). 


In connection with the Offering, the Company paid a cash commission of an
aggregate of $839,405 to the Underwriters. The Company intends to use the net
proceeds of the Offering to purchase additional HVAC and vacuum trucks, to
finance strategic acquisitions and for general corporate purposes. The Offering
is subject to TSX Venture Exchange acceptance of requisite regulatory filings.


Certain directors of the Company acquired, directly or indirectly, an aggregate
of 90,000 Common Shares in the Offering. The participation of such directors in
the Offering constitutes a related party transaction pursuant to Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). The Company is exempt from the formal valuation and
minority approval requirements of MI 61-101 in reliance on Sections 5.5(b) and
Sections 5.7(b), respectively, of MI 61-101.


James Horvath, President and CEO, stated "The closing of this Offering provides
Lonestar with a strong balance sheet and allows it to continue its aggressive
fleet expansion and acquisition program." 


About Lonestar West 

Based in Sylvan Lake, Alberta, Lonestar (www.lonestarwest.com) operates a fleet
of 91 HVAC and vacuum trucks throughout Western Canada and the United States. It
is focused on profitably growing its HVAC services to become a major competitor
in the North American market.


For more information please visit the Lonestar website at www.lonestarwest.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


Forward Looking Information 

Certain statements contained in this news release constitute forward-looking
information. These statements relate to future events or the Company's future
performance. The use of any of the words "could", "expect", "intend", "believe",
"will", "projected", "estimated" and similar expressions and statements relating
to matters that are not historical facts are intended to identify
forward-looking information and are based on the Company's current belief or
assumptions as to the outcome and timing of such future events. In particular,
forward-looking statements contained in this press release include, but are not
limited to the anticipated use of net proceeds of the Offering. These
forward-looking statements are based on assumptions and are subject to numerous
risks and uncertainties, certain of which are beyond the Company's control,
including the impact of general economic conditions, industry conditions,
volatility of commodity prices, competition, stock market volatility and the
ability to access sufficient capital. Actual future results may differ
materially. The Company's short-form prospectus filed in connection with the
Offering and other documents filed with securities regulatory authorities
(accessible through the SEDAR website www.sedar.com) describe the risks,
material assumptions and other factors that could influence actual results and
which are incorporated herein by reference. The Company disclaims any intention
or obligation to publicly update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as
may be expressly required by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lonestar West Inc.
James Horvath
President & CEO
403-887-2074
info@lonestarwest.com
www.lonestarwest.com


The Howard Group Inc.
Investor Relations
Jeff Walker
(888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com
Lonestar West Inc. (TSXV:LSI)
過去株価チャート
から 5 2024 まで 6 2024