Algoma Steel and Legato Merger Corp. Close Business Combination

SAULT STE. MARIE, CANADA October 19, 2021 — Today Algoma Steel Group Inc., parent company of Algoma Steel Inc. (“Algoma”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced the completion of their merger with Legato Merger Corp. (“Legato”), a publicly-traded special purpose acquisition company, taking public a company that is working to build a new era in steel through its transformational journey.

2021-11-01T11:47:03-04:00October 19th, 2021|Events and Presentations, Investors, Press Release|

Algoma Steel Provides Sault College $100,000 to Advance New Mechatronics Engineering Program

SAULT STE. MARIE, September 29, 2021 – Algoma Steel Inc. today announced it is contributing $100,000 to Sault College to support the education and development of students pursuing careers in steel and other vital industries through the College’s innovative Bachelor of Engineering – Mechatronics program.

2021-09-29T14:00:48-04:00September 29th, 2021|Events and Presentations, Investors, Press Release|

Algoma Steel Supports Local Hockey Leagues with Multi-Year Donation

SAULT STE. MARIE, September 23, 2021 – Algoma Steel Inc. today announced they are supporting the Soo Pee Wee Hockey League and the Sault Female Hockey Association through a new multi-year investment program to help defer costs for families and ensure that programs, awards, coaching, and training remain strong, promoting healthy active living for our youth.

2021-09-23T16:52:05-04:00September 23rd, 2021|Events and Presentations, Investors, Press Release|

Algoma Steel Applauds Conservative Party alignment with Liberals in Endorsing Company’s Proposed Transformation to Green Steel

SAULT STE. MARIE, September 17, 2021 – Algoma Steel Inc. today applauded recent statements by Sonny Spina, the Conservative candidate for Sault Ste. Marie, affirming the Conservative Party’s endorsement of the $420 million of federal financial commitments to facilitate Algoma Steel’s proposed transition to electric arc furnace (EAF) steelmaking.

2021-09-17T11:47:46-04:00September 17th, 2021|Events and Presentations, Investors, Press Release|

Algoma Steel Inc. Announces Strong First Quarter Results; Parent Company Expected to Become Public in 2021

SAULT STE. MARIE, ONTARIO (August 19, 2021) – Today Algoma Steel Inc. (the “Company”) reported strong first quarter results for the fiscal quarter ended June 30, 2021, setting the stage for its parent company, Algoma Steel Group Inc. (“Algoma”) to become a public company later in 2021. Unless otherwise specified, all amounts are in Canadian dollars.

2021-08-19T17:00:47-04:00August 19th, 2021|Events and Presentations, Investors, Press Release|

Algoma Steel Schedules First Quarter Fiscal 2022 Earnings Release and Conference Call

SAULT STE. MARIE, ONTARIO (August 13, 2021) – Algoma Steel Inc. (“Algoma” or the “Company”) and its merger partner Legato Merger Corp. (LEGO, LEGOU, LEGOW), announced today that Algoma will release its financial results for its fiscal first quarter ended June 30, 2021 on Thursday, August 19, 2021, after the close of the market.

2021-08-13T13:29:20-04:00August 13th, 2021|Events and Presentations, Investors, Press Release|

Government of Canada Endorses Algoma Steel’s Transformation Plan for Green Steel. Commitment of up to $420 Million

SAULT STE. MARIE, ONTARIO (July 5, 2021) – Algoma Steel Inc.’s (“Algoma Steel”) potential to become the “greenest” flat-rolled steel producer in Canada marked another significant milestone today with the Government of Canada’s commitment of up to $420 million in financial support. Unless otherwise specified, all amounts are in Canadian dollars. For the fourth quarter, Algoma Steel reported a net income of $114 million, up from a loss of $73.5 million in the prior quarter and up from $19 million in the fourth quarter of fiscal 2020.

Algoma Steel Inc. Reports Strengthening Financial Position for the year ended March 31, 2021

SAULT STE. MARIE, ONTARIO (June 17, 2021) – Algoma Steel Inc.’s (“Algoma Steel” or the “Company”) transformation journey is on track, as signaled today with the strong financial results reported for the fiscal year ended March 31, 2021. Unless otherwise specified, all amounts are in Canadian dollars. For the fourth quarter, Algoma Steel reported a net income of $114 million, up from a loss of $73.5 million in the prior quarter and up from $19 million in the fourth quarter of fiscal 2020.

Algoma Steel and Legato Merger Corp. Sign Definitive Merger Agreement

NEW YORK and SAULT STE MARIE, ONTARIO, CANADA--(CISION)—The Canadian parent company of privately held Algoma Steel Inc. (“Algoma”), a leading independent steel producer with extensive steelmaking and finishing operations in Sault Ste. Marie, Ontario, Canada, and Legato Merger Corp. (NASDAQ: LEGO, LEGOU, LEGOW), a special purpose acquisition company (“Legato”), today jointly announced that they have entered into a definitive merger agreement that will result in Algoma becoming a publicly listed company with its common shares traded on the Nasdaq Stock Market. Algoma also intends to apply to list its common shares on the Toronto Stock Exchange.