Lassonde Industries plans C$30 million subscription receipts placement

Offering conducted through sole placement agent BMO Capital Markets

By Devika Patel

Knoxville, Tenn., July 25 - Lassonde Industries Inc. said it will raise about C$30 million in a private placement of subscription receipts.

Each subscription receipt will be exchangeable for one class A subordinate voting share.

The deal will be conducted by BMO Capital Markets.

Settlement is expected Aug. 5.

Proceeds will fund the company's planned acquisition of a controlling interest in Clement Pappas and Co., Inc.

The manufacturer of specialty food products is based in Rougemont, Quebec.

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