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METHANEX ANNOUNCES COMPLETION OF FLETCHER CHALLENGE TRANSACTION

 VANCOUVER, British Columbia, March 24 /PRNewswire/ -- Methanex Corp. (NASDAQ-NMS: MEOHF; Toronto, Montreal: MX) of Vancouver announces that its previously announced acquisition of the methanol and synthetic fuels business and operations of Fletcher Challenge Ltd. of New Zealand was completed today. Methanex received overwhelming approval from its shareholders on March 22, 1993, where 99.9 percent of those voting, voted in favor of the transaction.
 The company's previously announced bought deal equity offering of 42 million common shares at a price of CDN $8.25 per share yielding gross proceeds of CDN $346,500,000 has also been completed.
 Methanex is a publicly traded company engaged primarily in the worldwide production and marketing of Methanol. Methanex's shares are listed for trading on the Toronto and Montreal Stock Exchanges in Canada under the trading symbol "MX" and on the NASDAQ-NMS in the United States under the trading symbol "MEOHF."
 -0- 3/24/93
 /CONTACT: Brooke N. Wade, or Kenneth E. Vidalin, or Ronald J. Russell of Methanex, 604-684-7500/
 (MEOHF)


CO: Methanex Corp. ST: British Columbia IN: SU:

EH -- LA013 -- 9063 03/24/93 11:24 EST
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Publication:PR Newswire
Date:Mar 24, 1993
Words:184
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