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Press release from Marketwire

Canexus Income Fund Announces Closing of $477.1 Million Bought Deal Secondary Offering of Trust Units

Monday, February 07, 2011

Canexus Income Fund Announces Closing of $477.1 Million Bought Deal Secondary Offering of Trust Units08:49 EST Monday, February 07, 2011CALGARY, ALBERTA--(Marketwire - Feb. 7, 2011) -NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.Canexus Income Fund (TSX:CUS.UN) ("Canexus" or the "Fund") is pleased to announce today that it and Nexen Inc. ("Nexen") have closed the previously announced secondary offering of 74,539,604 trust units ("Trust Units") of Canexus at an offering price of $6.40 per Trust Unit (the "Offering").The Offering was underwritten by a syndicate led by Scotia Capital Inc. and CIBC World Markets, and included BMO Capital Markets, TD Securities Inc., RBC Capital Markets Inc., HSBC Securities (Canada) Inc., National Bank Financial Inc., and Acumen Capital Finance Partners Limited.Canexus will not receive any of the proceeds of the Offering. After giving effect to this Offering, Nexen will not own any Trust Units or any securities convertible into Trust Units as the sale of 74,539,604 Trust Units by Nexen pursuant to the Offering represents Nexen's entire interest in Canexus.The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.About CanexusCanexus produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries. Our four plants in Canada and one in South America are reliable, low-cost, strategically-located facilities that capitalize on competitive electricity costs and transportation infrastructure to minimize production and delivery costs. Canexus also provides fee-for-service hydrocarbon transloading services to the oil and gas industry from its terminal at Bruderheim, Alberta. Canexus targets opportunities to maximize unitholder returns and delivers high-quality products to its customers. Canexus Trust Units (CUS.UN) and convertible debentures (Series I - CUS.DB; Series III - CUS.DB.A) trade on the Toronto Stock Exchange. More information about Canexus is available at www.canexus.ca.Forward Looking StatementsCertain statements in this news release constitute "forward-looking statements" (within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) or "forward-looking information" (within the meaning of applicable Canadian securities legislation). Such statements or information ("forward-looking statements") are generally identifiable by the terminology used such as "anticipate", "believe", "intend", "plan", "expect", "estimate", "budget", "outlook" or other similar words. Although Canexus believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Canexus can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertaintiesThe forward-looking statements contained in this press release are made as of the date hereof and Canexus undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.FOR FURTHER INFORMATION PLEASE CONTACT: Gary KuberaCanexus LimitedPresident and CEO(403) 571-7300ORRichard McLellanCanexus LimitedCFO(403) 571-7300