Rogers Sugar Inc. announced a private placement for issuance of 9,652,510 common shares at a price of CAD 5.18 for gross proceeds of CAD 50,000,001.80; and 2,007,722 common shares at a price of CAD 4.9808 for gross proceeds of CAD 10,000,061.73; for aggregate gross proceeds of CAD 60,000,063.53 on February 26, 2024. The transaction included participation from new investors Belkorp Industries Inc. for 9,652,510 shares and Fonds de solidarité FTQ for 2,007,722 shares. Should the over-allotment option be exercised, in whole or in part, by the underwriters and the investors will have the option to purchase additional common shares under the concurrent private placements in the same proportion of the common shares that are purchased by the underwriters pursuant to the over-allotment option.

The shares will be subject to a statutory hold period of four months from the date of their issuance, in accordance with Canadian securities regulations and, as well as a contractual hold period of six months from the date of their issuance. The closing is subject to a number of conditions, including the concurrent closing of the public offering and the receipt of all regulatory approvals, including the approval of the TSX.