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TORONTO, April 23, 2019 /CNW/ - Park Lawn Corporation (TSX:PLC) ("PLC" or the "Company") is pleased to announce that it has completed its previously announced offering of common shares ("Common Shares") with a syndicate of underwriters co-led by National Bank Financial Inc., CIBC Capital Markets and Cormark Securities Inc. (the "Co-Lead Underwriters") and including Acumen Capital Finance Partners Limited, Raymond James Ltd., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Paradigm Capital Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Scotia Capital Inc. (together with the Co-Lead Underwriters, the "Underwriters"), on a bought deal basis. A total of 5,605,100 Common Shares were issued at a price of $25.65 per Common Share for total gross proceeds of $143,770,815 (the "Offering"), which includes proceeds from the full exercise of an over-allotment option to purchase an additional 731,100 Common Shares.

The net proceeds from the Offering will be used, (i) to repay approximately $90.3 million of outstanding indebtedness under the Company's credit facility, (ii) to repay approximately $25.5 million of outstanding debt related to the Company's recent acquisition of Cress Funeral Service, Inc., (iii) to fund the Company's ongoing growth initiatives, and (iv) for general corporate purposes.

The Common Shares were offered pursuant to a short-form prospectus dated April 12, 2019 (the "Prospectus"), filed in each of the provinces of Canada, which describes the terms of the Offering. A copy of the short-form prospectus is available under the Company's profile on the SEDAR website at www.sedar.com.

The securities offered pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the "1933 Act") and may not be offered, sold or delivered, directly or indirectly, in the United States, or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to, or for the account or benefit of, U.S. persons.

About Park Lawn Corporation

PLC provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). PLC and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. PLC has a North American wide platform with operations in five Canadian provinces and thirteen U.S. States.

Cautionary Statement Regarding Forward-Looking Information

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the Company and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate", "pro-forma" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the proposed use of proceeds of the Offering and the Company's future growth strategy. The forward-looking statements in this news release are based on certain assumptions, and they are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading "Risk Factors" in the Prospectus and in the Company's annual information form available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Park Lawn Corporation

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