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Cambior continues negotiations for definitive agreement
Cambior Inc CBJ
Shares issued 72,890,161 Nov 11 close $1.81
Fri 12 Nov 99 News Release
Mr. Robert LaValliere reports
Further to its news release issued Oct. 27, 1999 (Stockwatch, Oct. 28),
Cambior advises that its standstill agreement executed on Oct. 27, 1999,
with its lenders and hedge counterparties remains in effect. The standstill
agreement remains in effect by its terms until Nov. 26, 1999, subject to
earlier termination under certain conditions. Negotiations between Cambior
and its lenders and hedge counterparties are continuing with a view to
achieving definitive arrangements for the orderly fulfilment of Cambior's
obligations to such parties over time.
While Cambior continues to believe that an agreement regarding a definitive
plan can be achieved during the term of the standstill agreement, there can
be no assurance that such an agreement will be reached. The failure to
achieve such an agreement, or the early termination of the standstill
agreement for any other reason, would be likely to have a material adverse
effect on Cambior and its financial results, financial condition and
prospects.
Cambior is an international diversified gold producer with operations,
development projects and exploration activities throughout the Americas.
Cambior's shares trade on the Toronto, Montreal and American stock
exchanges under the symbol CBJ.
WARNING: The company relies on litigation protection for "forward-looking"
statements.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
