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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: CFGL.) The CanFibre Group Ltd. (Canadian Dealer Network: CFGL ) is pleased to report that its wholly owned subsidiary, 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, a series of Land Use permits issued by the County of Riverside, and an Air Emissions Permit issued by the South Coast AQMD. 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) 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: canfibre@cyberstore.ca
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 25, 1996
Words:338
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