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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (438)	7/20/2000 8:05:09 PM
From: Veteran98	Read Replies (2) \| Respond to of 11633

Maximum obtains financing from Alberta Treasury Branches Maximum Energy Trust MXT.UN Shares issued 12,000,000 Jul 20 close $3.75 Thu 20 Jul 2000 News Release Mr. Glenn Proudfoot reports Maximum Energy Trust has accepted an offer to finance the Trust's portfolio from the Alberta Treasury Branches that will enable Maximum to repay all outstanding indebtness to the Bank of Montreal. This debt refinancing provides greater flexibility, lower interest rates and restores the ability of the board of directors to determine unitholder distributions within certain limitations. The Alberta Treasury Branches refinancing commitment contains standard industry conditions precedent and banking documentation requirements that need to be satisfied and executed respectively prior to receiving the financing from the Alberta Treasury Branches. Maximum anticipates these matters can be accomplished within 15 days. Upon closing this refinancing, Maximum will be in a position to announce the anticipated timing of the recommencement of unit holder distributions. Glenn C. Proudfoot, president and chief executive officer, stated, "I am delighted that at long last this fundamental objective of the Trust is now within our grasp. The Alberta Treasury Branches financing will rid the Trust of the restrictive operating procedures imposed by the Bank of Montreal. We take pride in the fact that prior to and throughout the process of seeking an alternative refinancing, Maximum maintained a pristine performance record and continued to more than satisfy all of its debt repayment targets with the Bank of Montreal. With the Alberta Treasury Branches, I am looking forward to establishing a long and trusting relationship with a financial partner that is in tune with our industry's needs and environment such that we can move to further restore the value of the Trust in the marketplace and realize upon more of Maximum's potential to grow." (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com