Park Lawn Corporation Announces Successful Closing of Subscription Receipt Offering for Gross Proceeds of Approximately C$190 Million

TORONTO, May 4, 2018 /CNW/ - Park Lawn Corporation (TSX: PLC) ("PLC" or the "Company") is pleased to announce that it has completed its previously announced offering of subscription receipts (the "Subscription Receipts") with a syndicate of underwriters (the "Underwriters") co-led by National Bank Financial Inc., CIBC Capital Markets and Cormark Securities Inc., on a bought deal basis. A total of 7,745,250 Subscription Receipts (including Subscription Receipts issued pursuant to the exercise in full of the over-allotment option granted by the Company to the Underwriters) were issued at a price of C$24.50 per Subscription Receipt for total gross proceeds of C$189,758,625 (the "Offering").

The Company intends to use the net proceeds from the Offering to fund the purchase price of the acquisition of all of the outstanding membership interests of Signature Funeral and Cemetery Investments, LLC (the "Acquisition") and to fund the Company's expenses related to the Acquisition and the Offering. The Acquisition is expected to close during the week of May 7, 2018, subject to the final satisfaction or waiver of certain closing conditions, including, among other things, third party consents and approvals, which are currently in progress. There can be no assurance that the applicable consents and regulatory approvals will be obtained, that the other closing conditions will be met or that the Acquisition will be consummated.

The securities offered pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the "1933 Act") and may not be offered, sold or delivered, directly or indirectly, in the United States, or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to, or for the account or benefit of, U.S. persons.

About Park Lawn Corporation

PLC provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). PLC and its subsidiaries own and operate 104 properties including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. PLC operates in five Canadian provinces and six US states.

Cautionary Statement Regarding Forward-Looking Information

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the Company and the environment in which it operates. Forward-looking statements are identified by words such as "expect", "intend" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the completion of the Acquisition, the completion of the Offering and the proposed use of proceeds of the Offering,. The forward-looking statements in this news release are based on certain assumptions, including without limitation that all conditions to completion of the Acquisition will be satisfied or waived. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Park Lawn Corporation

Andrew Clark, Chairman & Chief Executive Officer, [phone]; Joseph Leeder, Chief Financial Officer & Director, [phone]; Suzanne Cowan, VP, Business Development & Corporate Affairs, [email protected], [phone]