Boyd Group completes bought deal financing totalling $63,480,000

Winnipeg, Manitoba — October 22, 2013 — Boyd Group has closed its previously announced $55,200,000 bought deal financing. The offering was led by National Bank Financial and Cormark Securities, acting as co-leads and joint bookrunners, and included CIBC World Markets, Laurentian Bank Securities, Scotia Capital and Octagon Capital Corporation.

Concurrently with the closing, the underwriters exercised their over-allotment option in full and purchased an additional 300,000 units at the offering price, which increased the amount of gross proceeds under the offering to $63,480,000.

The majority of the net proceeds of the offering will be used to repay unamortized prepaid rebates previously received under paint supply arrangements, with the balance to be used for general corporate purposes. The repayment of the prepaid rebates was contemplated by Boyd Group as part of a restructuring of its paint supply arrangements from prepaid rebates to back-end purchase discounts.

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