GDI Integrated Facility Services Inc. announces completion of convertible debenture financing

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LASALLE, QC, Dec. 2, 2016 /CNW Telbec/ - GDI Integrated Facility Services Inc. (TSX: GDI) (the "Company" or "GDI") is pleased to announce that it has completed its previously announced public offering of $25,000,000 aggregate principal amount of 5.00% convertible unsecured subordinated debentures of the Company due December 31, 2021 (the "Offering"). The Offering was underwritten by a syndicate of underwriters co-led by National Bank Financial Inc., Desjardins Securities Inc. and GMP Securities L.P., and including BMO Nesbitt Burns Inc., TD Securities Inc., CIBC World Markets Inc., Scotia Capital Inc. and Industrial Alliance Securities Inc. (the "Underwriters"). GDI has granted the Underwriters an over-allotment option to purchase up to an additional $3,750,000 aggregate principal amount of Debentures at the same price, exercisable in whole or in part at any time for a period of up to 30 days from today, for market stabilization purposes and to cover over-allotments, if any.

The net proceeds from the Offering will be used to reduce indebtedness under GDI's revolving credit facilities, providing GDI with additional flexibility to continue to pursue its strategic growth objectives.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any other state securities laws and may not be offered or sold in the United States.

ABOUT GDI

GDI is a leading commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, hotels, shopping centres, industrial facilities, healthcare establishments, distribution facilities, airports and other transportation facilities. GDI's commercial facility services capabilities include commercial janitorial, installation, maintenance and repair of HVAC-R, mechanical and electrical systems, as well as other complementary services such as damage restoration and janitorial products manufacturing and distribution. GDI's subordinate voting shares are listed on the Toronto Stock Exchange (TSX: GDI). Additional information on GDI can be found on its website at www.gdi.com. 

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to GDI's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee"; "confident"; "ensure" or other similar expressions concerning matters that are not historical facts. In particular, statements regarding GDI's future objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which GDI believes are reasonable as of the current date. While management considers these assumptions to be reasonable, they may prove to be incorrect. It is impossible for GDI to predict with certainty the impact that the current economic uncertainties may have on future results. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, the Company is under no obligation and does not undertake to update or alter this information at any particular time, except as may be required by law.

SOURCE GDI Integrated Facility Services Inc.

Investor, analyst and media: GDI Integrated Facility Services Inc., David Hinchey, Senior Vice President, Strategic Development, Telephone: [phone] ext. 282