Aug 7 (Reuters) - Stuart Olson Inc SOX.TO :
* STUART OLSON ANNOUNCES A $70 MILLION CONVERTIBLE DEBENTURE FINANCING
* STUART OLSON- TO USE NET PROCEEDS OF PLACEMENT TO REDEEM, REPAY OUTSTANDING $80.5 MILLION 6.0% SUBORDINATED DEBENTURES THAT MATURE ON DEC 31, 2019
* STUART OLSON INC - CANSO WILL PURCHASE, $70 MILLION CONVERTIBLE UNSECURED SUBORDINATED DEBENTURES PRICED AT PAR, WITH INTEREST RATE OF 7.00% PER ANNUM