Rogers Sugar Inc. completed its $117.9 million financing initiative, which combined a $57.5 million public offering and $60.4 million in private placements. The public offering involved issuing 11,109,000 common shares at $5.18 each, fully utilizing the Over-Allotment Option, co-led by BMO Capital Markets and National Bank Financial Inc. This option, which allowed underwriters to purchase an additional 15% of shares, was exercised for market stabilization and over-allotment purposes.

Simultaneously, Rogers Sugar secured $60.4 million through non-brokered private placements with Fonds de solidarité des travailleurs du Québec (FSTQ) and Belkorp Industries Inc., issuing 9,652,510 and 2,007,722 shares, respectively. These shares are subject to a statutory hold period of four months and a contractual hold period of six months as per Canadian securities regulations.

The proceeds from these equity offerings will support the expansion of Lantic Inc., a wholly owned subsidiary of Rogers Sugar, particularly its Montreal plant. This expansion, estimated at $200 million, aims to increase production capacity by 20%, or 100,000 metric tonnes, enhancing sugar refining technology and logistical infrastructure in Eastern Canada. Additional proceeds from the Over-Allotment Option are allocated for working capital. Investissement Québec is also contributing with loans up to $65 million for the project.