CanFibre of Riverside, Inc. Receives all Permits for Construction in California.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 25, 1996-- The CanFibre Group Ltd. (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 .) The CanFibre Group Ltd. (Canadian Dealer Network: CFGL ) is pleased to report 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. is now in receipt of all of the necessary permits to construct its Medium Density Fibreboard facility in Riverside, California. These permits include: a Negative Declaration issued by the Environmental Protection Agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and , a series of Land Use permits issued by the County of Riverside, and an Air Emissions Permit issued by the South Coast AQMD AQMD Air Quality Management District AQMD Action Quake Map Depot . These permits are a necessary element to close the $92 million Tax Exempt Bond financing allocated by the State of California. CanFibre is also pleased to report that it has made excellent progress in working with the Federal Fisheries and Wildlife Service (FWS) to have the intended site cleared for use. The FWS had indicated that it might request a delay in the construction of the facility based on the area being a natural habitat for the "Delhi-sand flower loving fly." An agreement is being negotiated between the FWS, the counties of Riverside and San Bernardino and the vendor of the intended CanFibre site. While resolution of this agreement is expected very soon, the lack of resolution to date has caused some delay to the financing of the bonds and accordingly, CanFibre has requested and been granted a 30 day extension of its allocation from the State of California. CanFibre engages in the worldwide development of manufacturing plants to produce high quality wood panel products such as medium density fibreboard (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. ) 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- Note to Editors: The Canadian Dealing Network neither approves nor disapproves the contents of this News Release. CONTACT: The CanFibre Group Ltd. Investor Relations Department, 604/685-2430 1-800/661-0288 E-MAIL e-mail: see electronic mail. in full electronic mail Messages and other data exchanged between individuals using computers in a network. : canfibre@cyberstore.ca |
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