(All financial figures are approximate and in Canadian dollars unless otherwise noted)
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATESCALGARY, Alberta, June 23, 2020 (GLOBE NEWSWIRE) — Parkland Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI), announced today the closing of its previously announced private placement (the “Offering”) of $400 million aggregate principal amount of senior unsecured notes due 2028 (the “Notes”). The Notes bear interest at a rate of 6.00% per annum and were priced at par.Parkland intends to use the net proceeds from the Offering along with cash on hand to redeem all of the outstanding: (i) $200 million aggregate principal amount of 5.50% senior notes (the “5.50% Senior Notes”) with a final maturity date of May 28, 2021; and (ii) $200 million aggregate principal amount of 6.00% senior notes (the “6.00% Senior Notes”) with a final maturity date of November 21, 2022.Pursuant to the terms of the indenture governing the 5.50% Senior Notes, Parkland has issued a notice of redemption dated June 16, 2020 to redeem all of the outstanding 5.50% Senior Notes. In addition, pursuant to the terms of the indenture governing the 6.00% Senior Notes, Parkland has issued a notice of redemption to redeem all of the outstanding 6.00% Senior Notes, also dated June 16, 2020.The securities offered have not been and will not be registered under the U.S. Securities Act or under any state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States of America and its territories and possessions or to, or for the account or benefit of, United States persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.About Parkland CorporationParkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.For Further Information

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