MONTR�AL, QU�BEC--(Marketwired - March 20, 2015) - TVA Group Inc. (TVA or the Corporation) (TSX:TVA.B) announced today the closing of its rights offering, which expired on March 17, 2015, and confirmed the offering generated approximately $110 million in gross proceeds. The Corporation is using the gross proceeds from the rights offering to repay all amounts outstanding (including accrued interests) under a $100 million bridge loan provided by Quebecor Media Inc. (QMI), which was drawn in full for the purpose of funding part of the purchase price for the acquisition of substantially all of the assets of Vision Globale A.R. Ltd., and to pay all offering-related fees and expenses, including the standby commitment fee of 1% of the aggregate gross proceeds of the rights offering payable to QMI. The remaining proceeds will be used for general corporate purposes.
