VANCOUVER, British Columbia--March 15, 2004-- Creo Inc. announced that it has successfully completed the issuance of 5,000,000 common shares of Creo. On March 1, 2004, Creo announced that it had entered into an agreement with a syndicate of underwriters in connection with the offering. The common shares were sold on a bought deal basis at a price of C$13.39 per common share or US$10.00 per common share for total gross proceeds of approximately C$67.0 million or US$50.0 million. RBC Capital Markets acted as lead manager. Other members of the syndicate included BMO Nesbitt Burns, TD Securities, Merrill Lynch, Dundee Securities, Raymond James and Sprott Securities.
Creo intends to use these proceeds for general corporate and working capital purposes to support the execution of its digital media strategy and the capitalization and integration of its recent acquisitions, financing investment opportunities, and for additions to its facilities including adding new manufacturing capacity for plates and hardware and expanding capacity at existing plants.
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