Genesis Worldwide Inc. files final prospectus for initial public offering of common shares
Monday , June 25, 2007 16:45ET
MISSISSAUGA, ON, Jun 25, 2007 (Canada NewsWire via COMTEX) -- /NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
NEWSWIRE SERVICES/
Genesis Worldwide Inc. ("Genesis" or the "Company"), announced today that it has filed a final prospectus with the securities regulatory authorities in each of the provinces of Canada in connection with its initial public offering of 10,000,000 common shares at a price of $2.00 (pnds stlg 0.94) per share. The offering is being underwritten by a syndicate of underwriters led by Canaccord Adams, including CIBC World Markets Inc. and TD Securities Inc. In addition, the underwriters have been granted an option to purchase up to an additional 1,500,000 common shares at a price of $2.00 per share at any time within 30 days of the closing of the offering.
The Company has applied and has received conditional listing approval to list its common shares on the Toronto Stock Exchange. It has also applied for its common shares to be admitted to trading on the AIM Market of the London Stock Exchange.
It is expected that the offering will close on or about July 3, 2007, and is subject to customary closing conditions.
The common shares to be issued pursuant to this proposed offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Act") and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act. Accordingly, this press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or same would be unlawful prior to qualification under the securities laws of any such jurisdiction.
About Genesis Worldwide Inc.
Genesis is headquartered in Mississauga, Ontario, Canada and has licensees worldwide. Genesis develops and licenses structural building technology aimed at the residential, commercial and institutional building markets. Genesis offers licensees a turn-key solution enabling them to custom design, manufacture and install complete light steel building structures. The Genesis Solution encompasses engineered processes and materials that are environmentally sustainable or "green". For additional information about the Company, visit www.genesisworldwide.com.
Forward-Looking Statements
Any forward-looking statements in this press release are based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from projections suggested in any forward-looking statements due to a number of risks including those associated with the business of Genesis, the proposed offering and regulatory matters. Genesis assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties are contained in Genesis' final prospectus filed with the Canadian securities regulatory authorities, available at www.sedar.com.
SOURCE: Genesis Worldwide Inc.
Genesis Worldwide Inc., Vince Mifsud, President and Chief Executive Officer, Tel:
(905) 285-9909, vmifsud@genesistp.com
Copyright (C) 2007 CNW Group. All rights reserved.
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