Ced-Or Corporation: Letter of Intent for a $68 Million Financing for the OSB Mill Project.MONTREAL -- Ced-Or Corporation ("Ced-Or") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:COQ) is pleased to announce that its subsidiary, Ced-Or Forest Products Inc. ("PFC PFC abbr. private first class Noun 1. PFC - a powerful greenhouse gas emitted during the production of aluminum perfluorocarbon "), and itself have confirmed today their acceptance of a letter of intent provided by a major financial institution, defining terms and conditions of a long-term financing Long-term financing Liabilities repayable in more than one year plus equity. offer for a maximum total amount of $68 Million, required for the realisation of the company's value-added and cedar-based oriented strand board Oriented strand board, or OSB, or waferboard, or Sterling board (UK), is an engineered wood product formed by layering strands (flakes) of wood in specific orientations. ("OSB OSB abbr. Order of Saint Benedict ") mill project realization in Bearn, Temiscamingue. This letter of intent is the result of a previous agreement signed with Corpfinance International Ltd, a firm specialized in high level financing syndication, which gave them the mandate to obtain such a financing package from financial institutions similar to the one actually involved. This letter of intentis conditional to the results of the lender's due diligence investigation on the over-all project, including, in the first instance, a technical and environmental review as well as an update of the project costwithin the framework of a "turn-key" type contract, as envisioned by the company. This letter of intent constitutes an important step towards the realisation of the Ced-Or OSB mill project. Ced-Or common shares trade on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . The TSX Venture Exchange is not responsible in any way whatsoever for the authenticity or accuracy of this release. Ced-Or Corporation (TSX VENTURE:COQ) |
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