Stuart Olson to pay June 30, 2020 debenture interest in shares

CALGARY, AB, June 28, 2020 /CNW/ - Stuart Olson Inc. (TSX: SOX) ("Stuart Olson" or the "Company") announces that it will pay the $2,450,000June 30, 2020 interest payment on its 7.0% Convertible Unsecured Subordinated Debentures (the "Debentures") through the issuance of shares from treasury pursuant to the agreement of the holders of the Debentures and a corresponding supplement to the indenture for the Debentures. The shares will be issued at a 20% discount to the five day volume weighted average trading price of Stuart Olson's shares ended June 29, 2020.  The Toronto Stock Exchange has conditionally approved the issuance, subject to customary post-closing filings.

ABOUT STUART OLSON INC.

Stuart Olson Inc. provides general contracting and electrical building systems contracting in the public and private construction markets as well as general contracting, electrical, mechanical and specialty trades, such as insulation, cladding and asbestos abatement, in the industrial construction and services market. The Company operates office locations and projects throughout Western Canada, Ontario and the territories. In 2020 Stuart Olson was recognized as one of Alberta's Top Employers for the fourth consecutive year. Stuart Olson's common shares are listed on the Toronto Stock Exchange under the symbol "SOX". www.stuartolson.com

SOURCE Stuart Olson Inc.