Canexus Income Fund
TSX : CUS.UN

Canexus Income Fund

September 21, 2005 23:59 ET

Canexus Announces First Cash Distribution and Completion of North Vancouver Plant Maintenance

CALGARY--(CCNMatthews - Sept. 21) - Canexus Income Fund (TSX: CUS.UN) (the "Fund") today announced the initial cash distribution for the period August 18 to September 30, 2005, has been set at $0.1065 per unit. The distribution will be paid on or about October 15, 2005, to unitholders of record as at September 30, 2005. Subsequent monthly distributions of approximately $0.0729 per unit are anticipated to be made each month, commencing on November 15, 2005 to unitholders of record on October 31, 2005. These payments are consistent with the Fund's distribution policy, as stated in its initial public offering prospectus, dated August 10, 2005.

The Fund also advised that its North Vancouver chlor-alkali plant has completed a planned nine-day maintenance turnaround and has resumed operation. The plant's last major scheduled maintenance turnaround was in the fall of 2003.

"The North Vancouver plant's excellent operational reliability, coupled with strong market fundamentals and customer relationships, has resulted in this facility having one of the highest on-stream rates in the North American chlor-alkali industry in recent years," said Gary Kubera, President and CEO of Canexus.

About Canexus

Canexus produces sodium chlorate and chlor-alkali products in several plants throughout Canada and Brazil, largely for the pulp and paper and water treatment industries. Canexus operates reliable, strategically-located, low-cost production facilities that capitalize on competitive electricity costs and transportation infrastructure to minimize production and delivery costs. Canexus will target opportunities to maximize unitholder returns and continue the delivery of high quality products to its customers. Canexus is listed on the Toronto Stock Exchange under the symbol CUS.UN. More information about Canexus is available at www.canexus.ca

Forward Looking Statements

This news release may contain forward-looking statements relating to expected future events and financial and operating results of the Fund and its subsidiaries that involve risks and uncertainties. The use of the words "expects", anticipates", "continue", "estimates", "projects", "should", "believe", "plans", "intends", "may", "will" or similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements for a variety of reasons, 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 Fund's prospectus dated August 10, 2005 filed with the Canadian securities regulatory authorities. The Fund believes the expectations reflected in those forward-looking statements are currently reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Due to the potential impact of these factors, the Fund disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

Contact Information

  • Gary Kubera
    President and CEO
    Canexus Limited
    (403) 699-6700
    or
    Richard McLellan
    CFO
    Canexus Limited
    (403) 699-6700
    Website: www.canexus.ca