MONTREAL, Aug. 27 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) today announced
the extension of its supply agreement with First Solar, Inc. pursuant to which
5N Plus provides cadmium telluride and cadmium sulphide to First Solar from
5N Plus' Montreal facility. 5N Plus Inc. also announced the extension of its
supply agreement with First Solar Inc., relating to the supply of similar
product from 5N Plus' German facility, which agreement is subject to the
execution of notarized documents in accordance with German law. Pursuant to
these amendments, the previous supply agreements are being extended until
July 31, 2012, representing approximately one additional year.
The agreements are being amended to increase by 50% the minimum
prescribed quantities of cadmium telluride to be ordered by First Solar for
most of the remaining term of the agreements. In addition, the definition of
"change of control", which allows First Solar to exercise a purchase option
over 5N Plus' German assets in certain circumstances, are being materially
amended, such that a "change of control" will now occur only when a party
acquires 50% or more of the issued and outstanding shares of 5N Plus.
About 5N Plus Inc.
5N Plus draws its name from the purity of its products, 99.999%
(five nines or 5N) and more. 5N Plus, which has its head office in Montreal,
Quebec, develops and produces high-purity metals and compounds for electronic
applications and provides its customers with recycling solutions. The Company
is an integrated producer with both primary and secondary refining
capabilities. 5N Plus focuses on specialty metals such as tellurium, cadmium
and selenium and on related compounds such as cadmium telluride and cadmium
sulphide. The Company's products are critical precursors in a number of
electronic applications, including the rapidly-expanding solar (thin-film
photovoltaic) market, for which 5N Plus is a major supplier of cadmium
telluride, and the radiation detector market.
Additional information about 5N Plus is available on its Web site at
For further information:
For further information: Jacques L'Ecuyer, President and Chief Executive
Officer, 5N Plus Inc., (514) 856-0644, firstname.lastname@example.org