Canhorn Chemical Corporation - US$150,000 Private Placement.

TORONTO--(BUSINESS WIRE)--June 17, 1998-- Canhorn Chemical Cor(TSE See Tokyo Stock Exchange.

TSE

1. See Tokyo Stock Exchange (TSE).

2. See Toronto Stock Exchange (TSE). :CNH CNH Carteira Nacional de Habilitação
CNH Centro Nacional de Huracanes (Spanish)
CNH California Nevada Hawaii (a district of Kiwanis International)
CNH Club Náutico Hacoaj .) Canhorn Chemical Corporation (CNH-TSE) said today that it has, subject to regulatory approval, negotiated the sale of 300,000 common shares by way of a private placement at US$0.50 per share with a European investor.

The proceeds of US$150,000 will be used as additional working capital and for capital improvements to distillation capacity for the production of esters for electronics and flavour and fragrance chemicals by its wholly owned specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. subsidiary in Decatur, Illinois

For other uses, see Decatur.

Decatur is the largest city and the county seat of Macon County in the U.S. state of Illinois. The city, known as "The Soybean Capital of the World" was founded in 1836 and is located in Central Illinois along the Sangamon , Riba Corporation.


   CONTACT:  Canhorn Chemical Corporation
              Peter J. Fass, 212/ 949-4141
              or
              Canhorn Chemical Corporation
              Michael D. Coulter, 416/ 368-3332

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Publication:	Business Wire
Article Type:	Article
Geographic Code:	1CANA
Date:	Jun 17, 1998
Words:	110
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