Stelco to further invest in Hamilton community by acquiring 40% of Hamilton Sports Group, owner of Tiger-Cats football team and Forge FC

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Highlights of the transaction include:

  • Stelco to partner with existing and highly experienced Hamilton Sports Group management team
  • One of the most legendary franchises in all of Canadian professional sports, the Hamilton Tiger-Cats have won eight Gray Cup titles since 1950
  • Hamilton Forge FC have twice won the Canadian Premier League title and enjoy a rapidly growing fan base

HAMILTON, ON, January 2, 2022 / CNW / – Stelco Holdings Inc. (TSX: STLC) (“Stelco“or the”Society“) announced today that it has signed agreements with the current owners of Hamilton Sports Group (” HSG “) to purchase a 40% stake in the entities that own the Hamilton Tiger Cats and Hamilton’s Forge FC, as well as the head lease for Tim Hortons Field, a modern 23,000-seat multipurpose stadium in the center of Hamilton. The existing ownership group will retain majority ownership of HSG and continue to manage the teams, both of which have enjoyed recent success. The Tiger-Cats hosted and played in the 108 of the Canadian Football Leaguee Gray Cup Championship last month – the team’s second consecutive appearance in the league final. Forge FC are one of seven inaugural teams in the Canadian Premier League, winning back-to-back titles in 2019 and 2020 and will compete in the CONCACAF Champions League 2022. The playing area at Tim Hortons Field has received approval FIFA World Cup ™ and has already hosted 32 international matches during the Pan American Games and will host an upcoming FIFA World Cup qualifier between Canada and United States. Other notable events scheduled at Tim Hortons Field include the Buffalo Sabers hosting the Toronto Maple Leafs for the 2022 NHL Heritage Classic in March of this year, and the 110e Gray Cup which will be hosted by the Tiger-Cats in 2023.

The transaction is subject to certain conditions and is expected to close in the first quarter of 2022.

Executive Chairman and Chief Executive Officer of Stelco, Alan kestenbaum said: “Stelco remains committed to the city of Hamilton, the province of Ontario and the country of Canada by offering excellent career opportunities to its employees in the Hamilton region and continually giving back to the community. In keeping with these values, Stelco is delighted to partner with Hamilton Sports Group and all the Tiger-Cats and Forge FC organizations. They put a terrific product on the field in both sports and represent Hamilton proudly, just like Stelco. Since joining Stelco in 2017, I have never ceased to be amazed by the spirit of the local community and have experienced firsthand the enraged local support for the Tiger-Cats. It is a late union of two Hamilton icons, with the more than 110-year history of Stelco in Hamilton and the city’s own history of the Tiger-Cats stretching back over 150 years. We are excited about the growth prospects of both teams and their respective leagues as new media opportunities continue to be seized and live sports content remains the primary source of entertainment globally. “

Kestenbaum continued, “As part of this partnership, Stelco, along with Ti-Cats and Forge FC, intends to develop a youth-focused community engagement program through Hamilton and surrounding communities to improve health and well-being by engaging the best football and soccer talent available with our youth. “

About Stelco

Stelco is a low cost, independent, integrated steelmaker with one of the newest and most technologically advanced integrated steel facilities in North America. Stelco produces value-added flat-rolled steels, including premium coated, cold and hot-rolled sheet, as well as pig iron and metallurgical coke. With industry-leading gauge, crown and shape control, as well as uniform through-coil mechanical properties, our steel products are supplied to customers in the construction, automotive, energy, power, construction industries. household appliances and pipes and tubes through Canada and United States as well as various steel service centers, which are distributors of steel products. At Stelco, we understand the importance of our business reflecting the communities we serve and we are committed to making diversity and inclusion a central part of our workplace culture, in part through active participation in the BlackNorth Initiative.

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information may relate to our future prospects and anticipated events or results and may include information regarding our financial condition, business strategy, growth strategy, budgets, operations, financial results, taxes, dividend policy. , our plans and goals. In particular, information concerning our expectations in terms of future results, performance, achievements, prospects or opportunities is forward-looking information. In some cases, forward-looking information may be identified by the use of forward-looking terms such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity”. exists “,” budget “,” planned “,” estimates “,” outlook “,” forecast “,” projection “,” outlook “,” strategy “,” considering “,” anticipating “,” not anticipating “, “believes”, or variations of these words and phrases or state that certain actions, events or results “could”, “could”, “would”, “could”, “will”, “will”, “occur” or “would be achieved”. In addition, any statement that refers to expectations, intentions, projections or other characterizations of future events or circumstances contains forward-looking information. Statements containing forward-looking information are not historical facts but rather represent management’s expectations, estimates and projections regarding future events or circumstances.

You should not place undue reliance on forward-looking information. The forward-looking information contained in this press release is based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently deem appropriate. and reasonable in the circumstances. Despite a careful process of preparing and reviewing forward-looking information, there can be no assurance that the opinions, estimates and underlying assumptions will prove to be correct. Certain assumptions concerning: the use of and access to our production capacities; the capital expenditures associated with accessing such productive capacity; the impact of COVID-19 on our business and the broader market in which we operate; the market’s ability to recover from COVID-19; upgrades to our facilities and equipment; our research and development activities associated with advanced steel grades; our ability to source raw materials and other inputs; our ability to supply new customers and markets; our ability to effectively manage costs; our ability to attract and retain key personnel and skilled labor; our ability to obtain and maintain existing financing on acceptable terms; exchange rate and interest rate; the impact of competition; changes in laws, rules and regulations, including international trade regulations; and the growth of steel markets and industry trends are important factors taken into account in preparing the forward-looking information and management expectations contained in this press release.

SOURCE Stelco

For more information: For Investor Inquiries: Paul D. Scherzer, Chief Financial Officer, (905) 577-4432, [email protected]; For media inquiries: Trevor Harris, Vice President, Corporate Affairs, (905) 577-4447, [email protected]

Related links

https://www.stelco.com/


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