Press release from Marketwire
Canexus Corporation Announces Redemption of Series I Debentures
Friday, August 30, 2013
Canexus Corporation Announces Redemption of Series I Debentures11:29 EDT Friday, August 30, 2013
CALGARY, ALBERTA--(Marketwired - Aug. 30, 2013) -
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Canexus Corporation (TSX:CUS) (the "Corporation" or "Canexus") today announced that it will redeem all of its outstanding 8.00% Convertible Unsecured Subordinated Series I Debentures due December 31, 2014 (the "Series I Debentures") on October 3, 2013 (the "Redemption Date") in accordance with the amended and restated trust indenture dated as of July 8, 2011 (the "Indenture") between Canexus and Computershare Trust Company of Canada, as debenture trustee (the "Debenture Trustee"). Notice of the redemption will be delivered to the Debenture Trustee and to CDS Clearing and Depository Services Inc. or its nominee ("CDS") in the manner contemplated by the Indenture. Beneficial Series I Debenture holders who maintain their interests in the Series I Debentures through CDS should contact their respective brokerage firm or financial advisor with any questions about the redemption.
All of the issued and outstanding Series I Debentures have been called for redemption on the Redemption Date at a price of $1,020.82 for each $1,000 principal amount of Series I Debentures (the "Total Redemption Price"), which includes $20.82 of accrued and unpaid interest on the $1,000 principal amount of each Series I Debenture to, but excluding, the Redemption Date.
It is expected that the Toronto Stock Exchange (the "TSX") will halt trading on the Series I Debentures at the opening of business on the Redemption Date and delist such Series I Debentures at the close of business on the Redemption Date. Interest on the Series I Debentures will cease to accrue on and after the Redemption Date.
Canexus 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; Series V - CUS.DB.C) trade on the TSX. More information about Canexus is available at www.canexus.ca.
Forward Looking Statements
This press release contains forwarding looking statements. More particularly, this press release contains statements concerning the anticipated redemption of the Series I Debentures, the Redemption Date and the Total Redemption Price, as well as the halting and delisting of the Series I Debentures from the TSX. 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 www.sedar.com. 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:
President and CEO