Jul 10, 2012. /Lesprom Network/. Fortress Paper Ltd. has completed its previously announced bought deal offering of 7% convertible unsecured subordinated debentures, including the exercise in full of the underwriters' over-allotment option, resulting in aggregate gross proceeds of $69 million, as the company said in the press release received by Lesprom Network. The Offering was conducted by way of a short form prospectus dated July 3, 2012 through a syndicate of underwriters co-led by Raymond James Ltd. and Scotiabank, and included Canaccord Genuity Corp., Dundee Securities Ltd., RBC Dominion Securities Inc., TD Securities Inc., CIBC World Markets Inc., Cormark Securities Inc. and Acumen Capital Finance Partners Limited, who purchased a total of 69,000 Debentures at a price of $1,000 per Debenture. Fortress Paper intends to use the net proceeds of the Offering to fund capital expenditures relating to the cogeneration project at its Fortress Specialty Cellulose Mill, to fund capital expenditures relating to its recently acquired Fortress Global Cellulose Mill in Lebel-sur- Quevillon, Quebec, to reduce outstanding indebtedness and for working capital and general corporate purposes. Fortress Paper operates internationally in three distinct business segments: dissolving pulp, specialty papers and security paper products.