/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
MONTREAL, Jan. 22, 2018 /CNW/ - LXRandCo, Inc. (TSX:
LXR, LXR.WT) ("LXRandCo" or the "Company") has
announced today that it has entered into an agreement with
Canaccord Genuity Corp., on its own behalf and on behalf of a
syndicate of underwriters (collectively, the
"Underwriters"), pursuant to which the Underwriters will
purchase on a bought deal basis an aggregate of 2,500,000 Class B
Shares of the Company (the "Shares"), at a price of
C$5.25 per Share for gross proceeds
of C$13,125,000 (the
"Offering").
LXRandCo has granted the Underwriters an over-allotment option,
exercisable at any time on or prior to the date that is 30 days
following the closing of the Offering, to purchase up to an
additional 15% of the Offering at the offering price to cover
over-allotments, if any. If this option is exercised in full, an
additional C$1,968,750 in gross
proceeds will be raised pursuant to the Offering.
The net proceeds of this Offering are expected to be used to
accelerate the expansion of the Company's omni-channel sales
network and for general corporate purposes.
The Shares will be offered for sale to the public pursuant to a
short form prospectus to be filed with Canadian securities
regulatory authorities in all Canadian provinces. The Offering is
expected to close on or about February 12,
2018 and is subject to certain conditions including, but not
limited to, the receipt of all necessary regulatory and stock
exchange approvals, including the approval of the Toronto Stock
Exchange and the applicable securities regulatory authorities.
The securities offered have not been, and will not be,
registered under the U.S. Securities Act of 1933 (the "U.S.
Securities Act"), as amended, and may not be offered, sold or
delivered, directly or indirectly, in the
United States, its territories, its possessions and other
areas subject to its jurisdiction or to, of for the account or
benefit of, a U.S. person (as such term is defined in the U.S.
Securities Act), absent registration or an applicable exemption
from the registration requirements. 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 the securities in any State in which
such offer, solicitation or sale would be unlawful.
About LXRandCo
LXRandCo is a rapidly growing, international omni-channel
retailer of branded vintage luxury handbags and other personal
luxury products. LXRandCo sources and authenticates high-quality,
pre-owned products from iconic brands such as Hermès, Louis Vuitton, Gucci and Chanel, among others,
and sells them at attractive prices through: a retail network of
stores located in major department stores in Canada, the United
States and Europe;
wholesale operations primarily in the
United States; and its own e-Commerce website,
www.lxrco.com.
Caution Regarding Forward-Looking Statements
Certain statements in this press release are prospective in
nature and constitute forward-looking information and/or
forward-looking statements within the meaning of applicable
securities laws (collectively, "forward-looking statements").
Forward-looking statements generally, but not always, can be
identified by the use of forward-looking terminology such as
"outlook", "objective", "may", "could", "would", "will", "expect",
"intend", "estimate", "forecasts", "project", "seek", "anticipate",
"believes", "should", "plans" or "continue", or similar expressions
suggesting future outcomes or events and the negative of any of
these terms. Forward-looking statements in this news release
include, but are not limited to, statements regarding the Company's
intended use of proceeds from the offering and the expected closing
date of the Offering. Forward-looking statements reflect
management's current beliefs, expectations and assumptions and are
based on information currently available to management, which
includes assumptions about management's historical experience,
perception of trends and current business conditions, expected
future developments and other factors which management considers
appropriate. With respect to the forward-looking statements
included in this press release, management has made certain
assumptions with respect to, among other things, the Company's
ability to meet its future objectives and strategies, the Company's
ability to achieve its future projects and plans and that such
projects and plans will proceed as anticipated. as well as
assumptions concerning the satisfaction of all conditions of
closing to the Offering, including receipt of all necessary
regulatory and stock exchange approvals, and the successful
completion of the Offering within the anticipated timeframe,
general economic and market growth rates, currency exchange and
interest rates and competitive intensity.
Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
future circumstances, outcomes or results anticipated or implied by
such forward-looking statements will occur or that plans,
intentions or expectations upon which the forward-looking
statements are based will occur.
All forward-looking statements included in and incorporated into
this press release are qualified by these cautionary statements.
Unless otherwise indicated, the forward-looking statements
contained herein are made as of the date of this press release, and
except as required by applicable law, the Company does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Readers are cautioned that the actual results achieved will vary
from the information provided herein and that such variations may
be material. Consequently, there are no representations by LXRandCo
that actual results achieved will be the same in whole or in part
as those set out in the forward-looking statements.
SOURCE Canaccord Genuity