Algoma Central Corporation Announces Closing of Over-Allotment Option of Additional Debentures

Financial Post · Business Wire · 2026-11-06 13:44 UTC

ST. CATHARINES, Ontario -- Algoma Central Corporation (“Algoma”) (TSX:ALC) is pleased to announce that, in connection with its previously announced

ST. CATHARINES, Ontario — Algoma Central Corporation (“Algoma”) (TSX:ALC) is pleased to announce that, in connection with its previously announced offering (the “Public Offering”) of $70,000,000 aggregate principal amount of 6.20% convertible unsecured subordinated debentures (the “Debentures”), Algoma has issued an additional $10,500,000 aggregate principal amount of Debentures pursuant to the full exercise of the over-allotment option (the “Over-Allotment Option”) granted to the Underwriters (as defined below). The issuance of the additional debentures pursuant to the exercise of the Over-Allotment Option increases the total gross proceeds of the Public Offering to $80,500,000.

The Public Offering was conducted on a bought deal basis pursuant to the terms and conditions of an underwriting agreement among Algoma and CIBC World Markets Inc., Scotia Capital Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Desjardins Securities Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Raymond James Ltd., ATB Capital Markets Corp. and Paradigm Capital Inc. (collectively, the “Underwriters”).

The Public Offering was completed pursuant to a short form prospectus of Algoma dated October 30, 2026 (the “Prospectus”) filed with the securities commissions in each of the provinces of Canada. A copy of the Prospectus is available on Algoma’s SEDAR+ profile at www.sedarplus.ca.

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