CanFibre reaches terms for 10 year pre-sale of MDF production -- Toronto plant.VANCOUVER, B.C.--(BUSINESS WIRE)--Sept. 11, 1995--The CanFibre Group Ltd. is pleased to report that after several months of negotiation it has reached a written agreement with a major western US-based forest products company on the 10 year pre-sale of the annual 70 million square foot production expected from its planned Toronto 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. plant. The executed term sheet, which will form the basis of a final comprehensive contract, is sufficient for CanFibre to begin work immediately on 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. for its planned Toronto MDF plant. All other elements required for project funding are currently in place. Those elements include a 10 year supply of waste fibre as well as mitigation of construction and process risks. The common shares of CanFibre are quoted on the 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. , symbol - CFGL CFGL Community Foundation of Greater Lakeland (Lakeland, FL) CFGL Configuration List and on the United States O.T.C. Bulletin Board, symbol - CNFBF. CONTACT: Canfibre 800/661-0288 or U.S. Corporate Communications, 800/680-4940 |
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