MONTREAL, Quebec — January 5, 2026 — Leads & Copy — Rogers Sugar Inc. (TSX: RSI) has announced a public offering of $50,000,000 aggregate principal amount of Ninth Series convertible unsecured subordinated debentures at a price of $1,000 per debenture.
The debentures will bear interest at an annual rate of 5.50%, payable semi-annually on the last day of January and July, starting July 31, 2026. The debentures will mature on January 31, 2033.
The offering is being made through a syndicate of underwriters co-led by BMO Capital Markets and National Bank Capital Markets on a bought deal basis. Holders can convert the debentures into common shares of the company at a conversion price of $7.91 per share anytime before 5:00 p.m. (Montreal time) on the day before the Maturity Date or the date fixed for redemption.
The debentures will not be redeemable before January 31, 2029. After January 31, 2029, and before January 31, 2031, the company can redeem the debentures in whole or in part at their principal amount plus accrued interest, if the weighted average trading price of the company’s common shares on the Toronto Stock Exchange for the 20 consecutive trading days ending on the fifth trading day before the redemption notice is at least 125% of the Conversion Price. After January 31, 2031, and before the Maturity Date, the company can redeem the debentures in whole or in part at their principal amount plus accrued interest.
The underwriters have an option to purchase up to an additional $7,500,000 aggregate principal amount of debentures at the offering price, exercisable up to 30 days after the offering’s closing, to cover over-allotments and for market stabilization. If the option is fully exercised, the aggregate gross proceeds of the offering will be $57,500,000.
The company plans to use the net proceeds to reduce amounts outstanding under the credit facility of Lantic Inc., a subsidiary, and for general corporate purposes.
The offering is expected to close around January 12, 2026, subject to regulatory and TSX approval.
The debentures will be offered in each of the provinces of Canada pursuant to a prospectus supplement to the Company’s final short form base shelf prospectus dated December 5, 2025 that will be filed by no later than January 7, 2026. The Prospectus Supplement will be (within two business days of the date hereof), accessible on SEDAR+ at www.sedarplus.ca. A copy of the Prospectus Supplement (when filed) and any amendment may be obtained without charge from BMO Nesbitt Burns Inc. at Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at 905-791-3151 Ext 4312 or by email at torbramwarehouse@datagroup.ca, or from National Bank Financial Inc. at 130 King Street West, 4th Floor Podium, Toronto, Ontario, M5X 1J9 by telephone at 416-869-8414, or email at NBF-Syndication@bnc.ca.
Rogers is a corporation established under the laws of Canada. The Corporation holds all of the common shares of Lantic and its administrative office is in Montréal, Québec. Lantic operates cane sugar refineries in Montréal, Québec, and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic also operate a distribution center in Toronto, Ontario. Lantic’s sugar products are mainly marketed under the “Lantic” trademark in Eastern Canada, and the “Rogers” trademark in Western Canada and include granulated, icing, cube, yellow and brown sugars, liquid sugars, and specialty syrups. Lantic owns all of the common shares of Lantic Maple Inc. (formerly known as The Maple Treat Corporation) and its head office is headquartered in Montréal, Québec. Lantic Maple Inc. operates bottling plants in Granby, Dégelis and in St-Honoré-de-Shenley, Québec, and in Websterville, Vermont. Lantic Maple Inc. products include maple syrup and derived maple syrup products supplied under retail private label brands in approximately fifty countries and sold under various brand names.
Mr. Jean-Sébastien Couillard
Vice President of Finance, Chief Financial Officer & Corporate Secretary
Tel: (514) 940-4350
investors@lantic.ca
Source: Rogers Sugar Inc.
