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    Loblaw Closes Preferred Share Offering

    Loblaw Cos., Ltd. Friday completed the sale of 9.0 million cumulative redeemable convertible Second Preferred Shares, Series A, to yield 5.95 percent per annum, to a syndicate of underwriters co-led by RBC Dominion Securities, Inc. and CIBC World Markets, Inc. for distribution to the Canadian public.

    Loblaw Cos., Ltd. Friday completed the sale of 9.0 million cumulative redeemable convertible Second Preferred Shares, Series A, to yield 5.95 percent per annum, to a syndicate of underwriters co-led by RBC Dominion Securities, Inc. and CIBC World Markets, Inc. for distribution to the Canadian public.

    The aggregate gross proceeds of the sale were CAN $225 million (US $221 million).

    A subsidiary of George Weston, Ltd., Loblaw is Canada's largest food distributor and a leading provider of general merchandise products, drug store, and financial products and services. Loblaw is also one of the largest private sector employers in Canada, with over 140,000 full-time and part-time employees at over 1,000 corporate and franchised stores across the country.

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