Document:

EX-4.5

 Exhibit 4.5 
  

 
 ALGOMA STEEL GROUP INC. (INCORPORATED UNDER THE LAWS OF BRITISH COLOUMBIA) NUMBER CERT.9999 THIS CERTIFIES THAT * * SPECIMEN * * SHARES
**9,000,000,000***** ***9,000,000,000**** ****9,000,000,000*** *****9,000,000,000** ******9,000,000,000* is the registered owner of CUSIP: 015658107 ISIN:CA0156581070 * NINE BILLION AND 00/100 * FULLY PAID AND NON-ASSESSABLE COMMON SHARES WITHOUT
PAR VALUE IN THE CAPITAL OF ALGOMA STEEL GROUP INC. transferable only on the books of the Corporation by the registered holder in person or by duly authorized Attorney on surrender of this Certificate properly endorsed. This Certificate is not valid
until countersigned and registered by the Transfer Agent and Registrar of the Corporation. IN WITNESS WHEREOF the Corporation has caused this Certificate to be signed by its duly authorized officers. DATED: JANUARY 01, 2009 COUNTERSIGNED AND
REGISTERED by TSX Trust Company Toronto, Ontario, Canada. Transfer Agent and Registrar Michael McQuade President & CEO Rajat Marwah CFO The Shares represented by this Certificate are transferable at the offices of TSX Trust Company,
Toronto, Ontario, and Vancouver, British Columbia, Canada 

 

 
 FOR VALUE RECEIVED, hereby sell, assign and transfer unto (PLEASE INSERT SOCIAL INSURANCE NUMBER OF TRANSFEREE) THERE ARE SPECIAL RIGHTS
OR RESTRICTIONS ATTACHED TO THE COMMON SHARES OF ALGOMA STEEL GROUP INC. A COPY OF THE FULL TEXT OF THOSE SPECIAL RIGHTS OR RESTRICTIONS MAY BE OBTAINED, WITHOUT CHARGE, FROM THE RECORDS OFFICE OR THE REGISTERED OFFICE, AS THE CASE MAY BE.
RESTRICTIONS (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF ASSIGNEE) Shares of the Capital Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint Attorney to transfer the said Stock on the Books of the within
named Corporation, with full power of substitution in the premises. Dated: Signature: NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE, IN EVERY PARTICULAR, WITHOUT ALTERATION OR
ENLARGEMENT, OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A SCHEDULE 1 CANADIAN CHARTERED BANK OR AN ELIGIBLE GUARANTOR INSTITUTION WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM. 999999 Guaranteed by: ACCT9999 CERT.9999
TIR5405EX-4.6

 Exhibit 4.6 
  

					
	 NUMBER

________-
	  	 (SEE REVERSE SIDE FOR LEGEND)

THIS WARRANT WILL BE VOID IF NOT
EXERCISED PRIOR TO THE EXPIRATION DATE
(DEFINED BELOW)
	  	WARRANTS

 ALGOMA STEEL GROUP INC. 

CUSIP 015658115 
 WARRANT

 THIS CERTIFIES THAT, for value
received                                        
                                         
                                         
           is the registered holder of a warrant or warrants (the “Warrant(s)”) of Algoma Steel Group Inc., a British Columbia corporation (the “Company”), expiring
at 5:00 p.m., New York City time, on                         ,         2026,
        to purchase one common share, without par value (“Shares”), of the Company for each Warrant evidenced by this Warrant Certificate. The Warrant entitles the holder thereof to purchase
from the Company, commencing on the later of (a) January 22, 2022 and (b) _______, 20__ such number of Shares of the Company at the Warrant Price (as defined below), upon surrender of this Warrant Certificate and payment of the Warrant
Price at the office or agency of Continental Stock Transfer & Trust Company (the “Warrant Agent”) or if applicable, TSX Trust Company (the “Co-Agent), but only subject to the
conditions set forth herein and in the Warrant Agreement between the Company and Continental Stock Transfer & Trust Company, as amended by the Assignment, Assumption and Amendment Agreement, by and among the Company, Legato Merger Corp.,
the Warrant Agent and the Co-Agent. In no event will the Company be required to net cash settle any warrant exercise. The term “Warrant Price” as used in this Warrant Certificate refers to the
price per Share at which Shares may be purchased at the time the Warrant is exercised. The initial Warrant Price per Share is equal to $11.50 per share. The Warrant Agreement provides that upon the occurrence of certain events the Warrant Price, the
Redemption Trigger Price (defined below) and the number of Shares purchasable hereunder, set forth on the face hereof, may, subject to certain conditions, be adjusted. 

No fraction of a Share will be issued upon any exercise of a Warrant. If the holder of a Warrant would be entitled to receive
a fraction of a Share upon any exercise of a Warrant, the Company shall, upon such exercise, round up to the nearest whole number the number of Shares to be issued to such holder. 

Upon any exercise of the Warrant for less than the total number of Shares provided for herein, there shall be issued to the
registered holder hereof or the registered holder’s assignee a new Warrant Certificate covering the number of Shares for which the Warrant has not been exercised. 

Warrant Certificates, when surrendered at the office or agency of the Warrant Agent, or if applicable, the Co-Agent, by the registered holder in person or by attorney duly authorized in writing, may be exchanged in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any
service charge, for another Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants. 

Upon due presentment for registration of transfer of this Warrant Certificate at the office of the Warrant Agent, or if
applicable, the Co-Agent, a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee in exchange for this
Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any applicable tax or other governmental charge imposed in connection therewith. 

The Company and the Warrant Agent may deem and treat the registered holder as the absolute owner of this Warrant Certificate
(notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the registered holder, and for all other purposes, and neither the Company nor the Warrant Agent shall
be affected by any notice to the contrary. 
 Neither the Warrants nor this Warrant Certificate entitles the registered
holder to any of the rights of a shareholder of the Company. 
 The Company reserves the right to call the Warrant at any
time prior to its exercise with a notice of call in writing to the holders of record of the Warrant, giving at least 30 days’ notice of such call, at any time while the Warrant is exercisable, if the reported closing price of the Shares has
been at least $18.00 per share (as adjusted for 

 
stock splits, stock dividends, reorganizations, recapitalizations and the like) (the “Redemption Trigger Price”) for any 20 trading days within a 30 trading day period (the
“30-day trading period”) commencing after the Warrants become exercisable and ending on the third business day prior to the date on which notice of such call is given and if, and only if,
there is a current registration statement in effect with respect to the Shares underlying the Warrants commencing five business days prior to the 30-day trading period and continuing each day thereafter until
the date of redemption. The call price of the Warrants is to be $0.01 per Warrant. Any Warrant either not exercised or tendered back to the Company by the end of the date specified in the notice of call shall be canceled on the books of the Company
and have no further value except for the $0.01 call price. 
  

							
	By	 	      
	  		  	      

		 	Chief Executive Officer	  		  	Chief Financial Officer

 SUBSCRIPTION FORM 

To Be Executed by the Registered Holder in Order to Exercise Warrants 

The undersigned Registered Holder irrevocably elects to exercise ______________ Warrants represented by this Warrant Certificate, and to
purchase the Common Shares issuable upon the exercise of such Warrants, and requests that Certificates for such shares shall be issued in the name of 

(PLEASE TYPE OR PRINT NAME AND ADDRESS) 

(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER) 

and be delivered to 

                          
                                         
                                         
                                         
                    
 (PLEASE PRINT OR TYPE
NAME AND ADDRESS) 
 and, if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant
Certificate for the balance of such Warrants be registered in the name of, and delivered to, the Registered Holder at the address stated below: 
  

			
	Dated: _____________________	  	  

		  	(SIGNATURE)
		  	  

		  	(ADDRESS)
		  	  

		  	  

		  	(TAX IDENTIFICATION NUMBER)

 ASSIGNMENT 

To Be Executed by the Registered Holder in Order to Assign Warrants 

For Value Received, _______________________ hereby sell, assign, and transfer unto 

(PLEASE TYPE OR PRINT NAME AND ADDRESS) 

(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER) 

and be delivered to 

                          
                                         
                                         
                                         
                    
 (PLEASE PRINT OR TYPE
NAME AND ADDRESS) 
 ______________________ of the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute and
appoint _________________________________ Attorney to transfer this Warrant Certificate on the books of the Company, with full power of substitution in the premises. 
  

			
	Dated: _____________________	  	      

		  	(SIGNATURE)

 THE SIGNATURE TO THE ASSIGNMENT
OF THE SUBSCRIPTION FORM MUST CORRESPOND TO THE NAME WRITTEN UPON THE
FACE OF THIS WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR
ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER FIRM OF THE NYSE
AMERICAN, NASDAQ, NEW YORK STOCK EXCHANGE, PACIFIC STOCK EXCHANGE, OR CHICAGO
STOCK EXCHANGE.

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