CanFibre Receives Renewed California Bond Allocation.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Feb. 10, 1997-- THE CANFIBRE GROUP (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :CFGL CFGL Community Foundation of Greater Lakeland (Lakeland, FL) CFGL Configuration List .) Pursuant to its December 16, 1996 announcement, which indicated an agreement to relinquish a portion of its tax exempt bond allocation from the State of California for 1996 due to the delays caused by the endangered species endangered species, any plant or animal species whose ability to survive and reproduce has been jeopardized by human activities. In 1999 the U.S. government, in accordance with the U.S. Delhi-sands flower loving fly, The CanFibre Group Ltd. is pleased to announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , CanFibre of Riverside, Inc. has received a new allocation to issue tax exempt bonds for its Riverside, California MDF (1) (Main Distribution Frame) A wiring rack that connects outside lines with internal lines. It is used to connect public or private lines coming into the building to internal networks. facility. The terms of the new allocation allow CanFibre a further 90 days to complete all of the financing arrangements required to close financing and begin construction of the $112 million facility in Riverside. To support the project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. , CanFibre now holds all necessary permits as well as permission to construct from Fisheries and Wildlife Service relative to concerns about the possibility of the endangered species habitat being affected. CanFibre's previously negotiated contracts to guarantee supply of raw materials, construct the facility on a guaranteed and turnkey basis and sell 100 percent of its production for twenty years all remain in good standing. CanFibre, through its financial advisors, Key Global Finance Ltd., is now working to close a required placement of $16 million of equity which will augment the $95 million bond issue to be placed by a significant New York based underwriting firm. CanFibre engages in the worldwide development of manufacturing plants to produce high quality wood panel products such as medium density fibreboard fibreboard Noun a building material made of compressed wood Noun 1. fibreboard - wallboard composed of wood chips or shavings bonded together with resin and compressed into rigid sheets fiberboard, particle board (MDF) from 100 percent recycled dry waste. CanFibre MDF is North America's first "Green" panel board. It is produced from materials normally dumped in landfills without the use of conventional Urea Formaldehyde resins, a growing environmental concern for current MDF producers worldwide. -0- The Canadian Dealing Network neither approves nor disapproves the contents of this release. CONTACT: The Canfibre Group Ltd. Investor Relations Department, 604/685-2430, 604/685-2426 (FAX), E-mail: canfibre@cyberstore.ca |
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