News Releases

/NOT FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, Sept. 4, 2014 /CNW/ - Stuart Olson Inc. (TSX: SOX, SOX.DB) (“Stuart Olson” or the “Company”) is pleased to announce that it has increased its previously announced bought deal financing with a syndicate of underwriters co-led by TD Securities Inc. and CIBC and including RBC Capital Markets, Raymond James Ltd., Canaccord Genuity Corp., Dundee Securities Ltd., National Bank Financial Inc., Scotiabank, HSBC Securities (Canada) Inc. and Paradigm Capital Inc. whereby the underwriters will now purchase $70 million in principal amount of convertible unsecured subordinated debentures at a price of $1,000 per debenture (the “Debentures”). Stuart Olson has also granted the underwriters an over-allotment option to purchase up to an additional $10.5 million aggregate principal amount of Debentures, exercisable in whole or in part at any time for a period of 30 days following closing of the offering, to cover over-allotments, if any, and for market stabilization purposes.

In all other respects the terms of the financing and the use of proceeds will remain as previously disclosed in the Company’s press release dated September 3, 2014.

The offering is scheduled to close September 19, 2014 and is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX.

This press release is not an offer of securities for sale in the United States. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration under Rule 144A of the U.S. Securities Act of 1933. Stuart Olson does not intend to engage in a public offering of the securities in the United States.

About Stuart Olson Inc.

Stuart Olson Inc. provides building construction, commercial and industrial electrical contracting, earthmoving and industrial insulation services to an array of public and private sector clients. The Company operates office locations throughout British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Stuart Olson common shares and its outstanding convertible debentures due June 30, 2015 are listed on the TSX under the symbols "SOX" and "SOX.DB", respectively.  www.stuartolson.com   

Forward Looking Information

This press release contains certain statements that may constitute forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, without limitation, statements relating to an offering of Debentures by the Company, the closing date of the offering and the use of the net proceeds therefrom. Often, but not always, forward-looking information can be identified by the use of such words as "may", "will", "expect", "believe", "plan", "intend", "estimate", "outlook", "forecast", "should", "anticipate" and other similar terminology, including statements concerning possible or assumed future results. Forward-looking information is based on management's reasonable assumptions, analysis and estimates in respect of its experience and perception of trends, current economic conditions, government policies and expected developments, as well as other material factors that it considers to be relevant at the time of making such statements.

No forward-looking statement can be guaranteed. By its nature, forward-looking statements are based on assumptions involve known and unknown risks and uncertainties, which may cause actual results, performance or achievements of Stuart Olson to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements which include, but are not limited to, a material adverse change in the affairs of Stuart Olson or a development materially adversely affecting the financial markets, and the risks and uncertainties described in the Company's Annual Information Form filed with the applicable securities regulatory authorities in Canada under the Company's profile at www.sedar.com.  Although Stuart Olson has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  Readers are encouraged to consider the foregoing risks, uncertainties and other factors carefully when evaluating the forward-looking statements and are cautioned not to place undue reliance upon such information when making investment decisions.  Stuart Olson expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

SOURCE Stuart Olson Inc.