MAAX INC. (MXA) Message Board

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Gold/Mining/Energy : MAAX INC. (MXA)

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To: Gilbert Drapeau who wrote (10)	11/12/2001 9:24:49 AM
From: Gilbert Drapeau	Read Replies (1) of 37

Maax Inc. Completes a US$45.5 Million Private Placement SAINTE-MARIE, QUEBEC--NOVEMBER 12, 2001 - 08:31 EST MAAX Inc. announces that it has completed a private placement of US$45.5 million senior unsecured notes issued to U.S. investors. The notes bear interest at the annual rate of 6.7% and are fully redeemable upon maturity in October 2008. The proceeds from this placement were used entirely for the repayment of a portion of the Company's existing credit facilities. Management of MAAX Inc. estimates that this financing arrangement provides the Company with a fixed-rate capital injection and improves its capital structure. In addition, the Company now has more than CAN$100 million in unused credit facilities to finance its future growth. The agent for MAAX in connection with the private placement of the notes was RBC Dominion Securities Corporation. MAAX Inc. is a leading North American manufacturer of bathroom products and accessories, spas and kitchen cabinets. The Company currently employs 2,700 people in its 23 plants and seven distribution centres across Canada, the United States and Europe. Its common shares are traded on the Toronto Stock Exchange under the ticker symbol MXA. /T/ --------------------------------------------------------------------- PROSPECTIVE FINANCIAL INFORMATION This press release includes forward-looking statements that involve a number of risks and uncertainties. The Company would like to point out that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the realization of a particular financial projection. ---------------------------------------------------------------------

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