NewGrowth Corp. Announces Completion of Offering of Class B Preferred Shares, Series 3 and Class A Capital Shares

TORONTO, June 26, 2014 /CNW/ - NewGrowth Corp. (the "Company") is pleased to announce that is has completed its public offering of Class B preferred shares, series 3 ("Preferred Shares") and Class A capital shares ("Capital Shares"), raising $91,796,616 through the issuance of 2,644,235 Preferred Shares and 165,000 Capital Shares at a price per share of $32.07 and $42.40, respectively. In addition, the Company has redeemed all of its outstanding Class B preferred shares, series 2. The Preferred Shares and Capital Shares were offered to the public on a best efforts basis by a syndicate of agents led by Scotiabank which included CIBC, TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Burgeonvest Bick Securities Limited, Desjardins Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated.

NewGrowth Corp. is a mutual fund corporation created to invest its assets in common shares of selected large capitalization Canadian companies (the "Portfolio Shares") with growth potential and an attractive dividend yield in order to generate dividend income for holders of its preferred shares and to enable the holders of the Company's Capital Shares to participate in any capital appreciation in the Portfolio Shares.

SOURCE: NewGrowth Corp.

Investor Relations
NewGrowth Corp.
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E-mail: [email protected]
Web site: www.scotiamanagedcompanies.com