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TORONTO, March 11, 2026 (GLOBE NEWSWIRE) -- Aecon Group Inc. (TSX:ARE) ("Aecon" or the "Company") is pleased to announce it has entered into an agreement to sell, on a bought deal basis, 3,822,000 common shares (the "Shares") from treasury to a syndicate of underwriters led by CIBC Capital Markets and TD Securities Inc. (the "Underwriters"). The Shares will be offered at a price of $39.25 per Share (the "Offering Price"), for gross proceeds to the Company of approximately $150,013,500 (the "Offering").

Aecon has granted the Underwriters an over-allotment option to purchase up to an additional 573,300 Shares, on the same terms and conditions, exercisable in whole or in part up to 30 days after the closing of the Offering, for additional gross proceeds of up to approximately $23 million.

Aecon intends to use the net proceeds from the Offering to repay amounts drawn under its revolving credit facility, and to the extent there are any excess net proceeds, for general corporate purposes.

The Shares will be ...