/THIS NEWS RELEASE IS INTENDED
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CALGARY, June 12, 2017 /CNW/ - Mosaic Capital
Corporation ("Mosaic") (TSX-V Symbols: M and M.DB) announced
today that it has filed a preliminary prospectus supplement (the
"Prospectus Supplement") to Mosaic's short-form base shelf
prospectus dated September 23, 2016
(the "Base Shelf Prospectus") with the securities regulatory
authorities in all provinces of Canada, except Québec, in connection with an
overnight-marketed public offering (the "Offering") of
common shares of Mosaic (the "Common Shares").
The Offering is being made through a syndicate of underwriters
co-led by Canaccord Genuity Corp. and Raymond James Ltd.
The Offering will be for up to $20
million of Common Shares, not including any exercise of the
customary over-allotment option for an additional 15% of the issue
to be granted to the underwriters, and will be priced in the
context of the market with final terms of the Offering to be
determined at the time of pricing.
Mosaic will use the net proceeds of the Offering for future
acquisitions that fit Mosaic's acquisition criteria and for general
corporate purposes, which may include paying down existing credit
facilities.
The Offering is expected to close on or about June 20, 2017 and is subject to certain
conditions including, but not limited to, the receipt of all
necessary approvals, including the approval of the TSX Venture
Exchange.
The securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable
exemption from the U.S. registration requirements. This news
release does not constitute an offer for sale or the solicitation
of an offer to buy securities in the
United States or in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of
established businesses which span a diverse range of industries and
geographies. Mosaic's strategy is to create long-term value for its
shareholders through accretive acquisitions, long-term portfolio
ownership, sustained cash flows and organic portfolio growth.
Mosaic achieves its objectives by maintaining financial discipline,
acquiring businesses at attractive valuations, performing extensive
acquisition due diligence, utilizing optimal transaction
structuring and working closely with subsidiary businesses after
acquisition.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
FORWARD LOOKING INFORMATION
This news release contains forward-looking information and
statements within the meaning of applicable Canadian securities
laws (herein referred to as "forward-looking statements") that
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. All information and statements in this news release
which are not statements of historical fact may be forward-looking
statements. The words "believe", "expect", "intend", "estimate",
"anticipate", "project", "scheduled", and similar expressions, as
well as future or conditional verbs such as "will", "should",
"would", and "could" often identify forward-looking statements. In
particular, forward-looking statements in this news release
include, but are not limited to: statements respecting the pricing
and timing of the closing of the Offering and the use of net
proceeds of the Offering. Such statements or information are only
predictions and reflect the current beliefs of management with
respect to future events and are based on information currently
available to management. Actual results and events may differ
materially from those contemplated by these forward-looking
statements due to these statements being subject to a number of
risks and uncertainties.
Undue reliance should not be placed on these forward-looking
statements as there can be no assurance that the plans, intentions
or expectations upon which they are based will occur. By their
nature, forward-looking statements involve assumptions and known
and unknown risks and uncertainties, both general and specific,
that contribute to the possibility that the predictions and other
forward-looking statements will not occur. Some of the assumptions
made by Mosaic, upon which such forward-looking statements are
based include, but are not limited to: future market conditions
will not be materially different than anticipated by Mosaic; there
will be no material changes to government and environmental
regulations affecting Mosaic or its operations; and the operations
of the businesses of Mosaic will continue on a basis consistent
with prior years.
A number of factors could cause actual results to differ
materially from those expressed or implied by the forward-looking
statements, including, but not limited to: the possible failure to
obtain necessary regulatory approvals or to satisfy conditions
necessary to complete the Offering; prevailing economic conditions;
unexpected changes in the financial markets (including in the
trading price of the securities of Mosaic); and changes in the
general economic and business conditions of one or more of Mosaic
and its subsidiaries. Should any of the risks or uncertainties
facing Mosaic and its subsidiaries materialize, or
should assumptions underlying the
forward-looking statements prove incorrect, actual results,
performance, activities or achievements could vary materially from
those expressed or implied by any forward-looking statements
contained in this news release. Readers are cautioned that the
foregoing list of risks is not exhaustive. Additional information
on these and other factors that could affect
the operations or financial results
of Mosaic and its subsidiaries are included
in the Prospectus Supplement, the Base Shelf Prospectus and
Mosaic's annual information form for the year ended December 31, 2016, a copy of which is available
under Mosaic's profile on SEDAR (www.sedar.com).
Although Mosaic believes that the expectations represented by
any forward-looking-statements contained herein are reasonable
based on the information available to it on the date of this news
release, management cannot assure investors that actual results,
performance or achievements will be consistent with these
forward-looking statements. Any forward-looking statements herein
contained are made as of the date of this news release and Mosaic
does not assume any obligation to update or revise them to reflect
new information, events or circumstances, except as required by
law.
SOURCE Mosaic Capital Corporation