A $1,500,000 Investissement Quebec Contribution in the Ced-Or Lumber Inc. Project in Mont-Laurier and Maniwaki.MONTREAL -- Ced-Or Corporation ("Ced-Or") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:COQ) is pleased to announce that the Government of Quebec, through Investissement Quebec, has confirmed its reimbursable and interest-free financial contribution to Ced-Or Lumber Inc., a 100% owned Ced-Or subsidiary, for an amount up to $1,500,000 in the company's value-added cedar products project, with installations in Maniwaki and Mont-Laurier, Quebec Mont-Laurier is a town in northwest Quebec, Canada located on the banks of the Rivière du Lièvre, a tributary of the Ottawa River. Known as "the capital of the Haute-Laurentides", Mont-Laurier was founded in 1885 by Solime Alix. . The contribution is subject to certain conditions and is reimbursable over a 36 month period, in monthly payments, beginning three years following the first disbursement DISBURSEMENT. Literally, to take money out of a purse. Figuratively, to pay out money; to expend money; and sometimes it signifies to advance money. 2. . A total of 200 jobs, including 140 direct jobs, will thus be created. Revenues from the project are estimated at around $ 25 Million annually. Ced-Or common shares trade on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. The TSX Venture Exchange is not responsible in any way whatsoever for the authenticity or accuracy of this release. CED-OR CORPORATION (TSX VENTURE:COQ) |
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