Ainsworth Lumber Announces Completion of Voyageur Acquisition and the Closing of Private Placement of Senior Notes.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 19, 2004 Ainsworth Lumber Co. Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :ANS (ANS Communications, Inc, Purchase, NY) An ISP, Internet backbone and provider of private data network services, founded in 1990 as Advanced Network & Services, Inc., by IBM, MCI and Merit (consortium of Michigan universities). ) ("Ainsworth") today announced the completion of its acquisition of Voyageur voy·a·geur n. pl. voy·a·geurs A woodsman, boatman, or guide employed by a fur company to transport goods and supplies between remote stations in Canada or the U.S. Northwest. Panel Limited ("Voyageur"), an oriented strand board Oriented strand board, or OSB, or waferboard, or Sterling board (UK), is an engineered wood product formed by layering strands (flakes) of wood in specific orientations. ("OSB OSB abbr. Order of Saint Benedict ") manufacturing company located in Barwick, Ontario. Concurrent with the closing of the acquisition, Ainsworth announced the closing of the private placement of US$110 million aggregate principal amount of 6.750% senior unsecured notes due March 15, 2014 (the "Senior Notes"). As previously announced, Ainsworth intends to use the net proceeds of the offering of the Senior Notes, together with cash on hand, to fund the acquisition of Voyageur. This press release is not an offer of securities for sale in the United States. The Senior Notes have not been registered under the United States Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. |
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