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DOMINION TEXTILE INC. ISSUES COMMON SHARES

 MONTREAL, Feb. 2 /PRNewswire/ -- Dominion Textile Inc. announced today the issue of 6,000,000 additional common shares at a price of $9.00 per share. Dominion Textile will file a preliminary short form prospectus with the various securities commissions in Canada in respect of the issue. Dominion Textile stated that the net proceeds of the issue, which total $51.8 million, will be used in the corporation's ongoing capital expenditure program and for working capital purposes. The corporation ultimately intends to use the amount allocated for working capital purposes to reduce long-term debt.
 The issue is being underwritten by a syndicate led by Burns Fry Limited.
 -0- 02/02/93
 /CONTACT: Lise Charron, director-corporate communications of Dominion Textile Inc., 514-989-6468/
 (DTX)


CO: Dominion Textile Inc. ST: Quebec IN: TEX SU: OFR

LD -- NY120 -- 2151 02/02/93 19:19 EST
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Publication:PR Newswire
Date:Feb 2, 1993
Words:141
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