Cambior Sells Mexican Division to Glamis Gold Ltd.Business Editors MONTREAL--(BUSINESS WIRE)--May 9, 2000 Cambior Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :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 .) (AMEX AMEX See: American Stock Exchange :CBJ) All amounts are expressed in US$ Cambior Inc. ("Cambior") announces that it has sold its 100 % interest in Cambior de Mexico, S.A. de C.V., Cambior's Mexican holding company, to Glamis Gold Ltd. ("Glamis"). Glamis has also purchased from Cambior a crusher system originally acquired by Cambior for use at the Cerro San Pedro Project in Mexico. Cambior received cash proceeds of $9.5 million from Glamis of which $7 million is attributed to the shares of Cambior de Mexico and $2.5 million to the crushing plant. Cambior de Mexico's assets include 50 % of Minera San Xavier, S.A. de C.V., which owns the Cerro San Pedro gold and silver project in San Luis Potosi San Lu·is Po·to·sí A city of central Mexico northeast of León. It was founded in the late 1500s and is a mining, transportation, and industrial center. Population: 659,000. Noun 1. ; 100 % of Cambior Metates, S.A. de C.V., which owns a 50 % interest in the Metates gold project ion the State of Durango; and 100 % of Cambior Exploracion, S.A de C.V., which holds interests in a variety of gold exploration projects in Mexico. Proceeds from the sale will be used to reduce Cambior's obligations to its financial creditors. Cambior Inc. is a diversified international gold producer with operations, development projects and exploration activities throughout the Americas. Cambior's shares trade on the Toronto and American (AMEX) stock exchanges under the symbol "CBJ". This press release contains certain "forward-looking statements," as defined in the United States 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 include those disclosed under the heading "Risk Factors" in Cambior's Annual Information Form (AIF AIF Annual Information Form AIF Apoptosis-Inducing Factor AIF Agence Intergouvernementale de la Francophonie (French: Intergovernmental Agency for Francophony) AIF Australian Imperial Force ) filed with the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. , the Quebec Securities Commission, the United States Securities and Exchange Commission (Form 40-F) and other regulatory authorities. |
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