SOURCE: Canexus Corporation

Canexus Corporation

December 04, 2014 17:10 ET

Canexus Provides Update on NATO Sale Process and December Nominations

CALGARY, AB--(Marketwired - December 04, 2014) - Canexus Corporation (TSX: CUS) (the "Corporation" or "Canexus") confirms that the announced disposition process for the North American Terminal Operations ("NATO") crude-by-rail facility continues on schedule despite recent commodity price volatility.

"Notwithstanding the recent turmoil in the energy markets, we continue to see solid interest in our NATO crude-by-rail facility at Bruderheim from a number of North American parties," stated Doug Wonnacott, President and CEO of Canexus. "Definitive offers for the potential purchase of NATO are to be submitted to Canexus in the back half of December. In addition, nominations from our customers for the month of December are at our expectations."

Canexus will be reviewing definitive bids after they are received; however, there is no assurance that any of the definitive bids will be acceptable to Canexus or, if a transaction is pursued, that it will be completed.

Forward-Looking Statements

This news release contains forward-looking statements and information relating to expected future events relating to Canexus and its subsidiaries, including with anticipated definitive bids to acquire NATO, the timing of receipt of such bids and the subsequent review by Canexus thereof. 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 Corporation's Annual Information Form filed on the Corporation's SEDAR profile at www.sedar.com. Management believes the expectations reflected in these 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, Canexus 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.

About Canexus

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 industry from its terminal at Bruderheim, Alberta. Canexus targets opportunities to maximize shareholder returns and delivers high-quality products to its customers and is committed to Responsible Care® through safe operating practices. Canexus common shares (CUS) and debentures (Series III - CUS.DB.A; Series IV - CUS.DB.B; Series V - CUS.DB.C; Series VI - CUS.DB.D) trade on the Toronto Stock Exchange. More information about Canexus is available at www.canexus.ca.

Contact Information

  • Further information:

    Richard McLellan, CA 
    Senior VP, Finance & CFO 
    Canexus Corporation 
    (403) 571-7300 

    Robin Greschner, MBA
    Manager Investor Relations
    Canexus Corporation
    (403) 571-7356