Cambior Inc.: Agreement for the Sale of the El Pachon Copper Project.Business Editors LONGUEUIL, Quebec--(BUSINESS WIRE)--June 28, 2001 Cambior Inc. (AMEX AMEX See: American Stock Exchange :CBJ CBJ Columbus Blue Jackets (NHL team) CBJ Central Bank of Jordan CBJ Conflict-Directed Backjumping CBJ Circuit Board Jack CBJ Code-Breakers Journal CBJ Class Broker for Java CBJ Color Bubble Jet )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CBJ.) All amounts are expressed in US dollars Cambior Inc. and Minera S.A. (together the "Vendors") are pleased to announce the signing of an agreement with Noranda Inc. for the sale of the El Pachon copper project located in Argentina. The El Pachon project is owned 50% by Cambior and 50% by Minera S.A. Cambior will receive a total consideration of $15 million, with $13 million payable at closing and $2 million at the time Noranda makes a production decision but not later than four years from closing. Closing of the transaction would take place as soon as practicable after completion of a legal and financial due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. review by Noranda and the completion of final documentation. Noranda has already completed a technical due diligence review of the El Pachon project based on information provided by the Vendors and declared itself satisfied with the results. Cambior's share of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the sale will be used mainly to reduce indebtedness and should thereafter improve Cambior's financial flexibility with a view to adding to its producing assets on a highly selective basis. Cambior Inc. is an international gold producer with operations, development projects and exploration activities throughout the Americas. Cambior's shares trade on the Toronto (TSE) and American (AMEX) stock exchanges under the symbol "CBJ". This press release contains certain "forward-looking statements", as defined in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such risks and uncertainties are disclosed under the heading "Risk Factors" in Cambior's 2000 Annual Report on Form 20-F filed as its Annual Information Form with the securities commissions of all provinces in Canada, and with the United States Securities and Exchange Commission, as well as the TSE and the Amex. |
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