North American Construction Group Ltd. Announces Early Redemption of 5.5% Debentures Due June 30, 2028

Core Points - North American Construction Group Ltd. (NACG) announced the redemption of its outstanding 5.5% convertible unsecured subordinated debentures due June 30, 2028, effective February 28, 2025 [1][4] - The redemption price for each debenture will be $1,008.86111, which includes the principal repayment of$1,000 and accrued interest of $8.86111 [4] - As of the announcement date, the total aggregate principal amount of debentures issued and outstanding is$74,106,000 [4] Redemption Details - Holders of the debentures can convert them into common shares at a price of $24.23 per share, which is lower than the closing price of$28.45 on January 29, 2025 [2] - The company encourages debentureholders to check with their financial institutions for conversion instructions ahead of the redemption date [3] - The company plans to pay the redemption price in cash and intends to have the debentures de-listed from the Toronto Stock Exchange following the redemption [5] Company Overview - NACG is one of the largest providers of heavy construction and mining services in Canada and Australia, with over 70 years of experience in the mining, resource, and infrastructure construction markets [6]