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Press release from Marketwire

Canexus Corporation Announces Closing of Common Share Financing

Wednesday, December 19, 2012

Canexus Corporation Announces Closing of Common Share Financing08:37 EST Wednesday, December 19, 2012CALGARY, ALBERTA--(Marketwire - Dec. 19, 2012) -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 Corporation ("Canexus" or the "Corporation") (TSX:CUS) is pleased to announce that it has closed its previously announced offering of 10,925,000 common shares on a bought deal basis (including 1,425,000 common shares issued pursuant to the exercise in full of the over-allotment option granted to the underwriters) at a price of $7.90 per common share, for total gross proceeds of $86,307,500 (the "Offering"). The Offering was underwritten by a syndicate led by Scotia Capital Inc. The net proceeds of the Offering will be used for expansion of capabilities at the North American Terminal Operations ("NATO") at Bruderheim, Alberta and to fund other ongoing growth initiatives, including our hydrochloric acid expansions at North Vancouver. 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 two at one site in Brazil 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 shareholder returns and delivers high-quality products to its customers. Canexus common shares (CUS) and debentures (Series I - CUS.DB; Series III - CUS.DB.A; Series IV - CUS.DB.B) trade on the Toronto Stock Exchange. More information about Canexus is available at Looking StatementsThis press release contains forwarding looking statements. More particularly, this press release contains statements concerning the anticipated use of the net proceeds of the Offering. By their nature, forward looking statements involve a variety of assumptions, known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements including market and general economic conditions, future costs, treatment under governmental regulatory, tax and environmental regimes and the other risks and uncertainties detailed under "Risk Factors" in the Corporation's Annual Information Form filed on the Corporation's SEDAR profile at 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 uncertainties. The 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: Contact Information: Canexus CorporationGary KuberaPresident and CEO(403) 571-7300Canexus CorporationRichard McLellanCFO(403)