TORONTO, Dec. 13, 2016 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) ("Chemtrade" or the "Fund"), at the request of the Investment Industry Regulatory Organization of Canada ("IIROC"), confirms that it is in discussions with Canexus Corporation (TSX:CUS) ("Canexus") regarding a potential acquisition by an indirect wholly-owned subsidiary of the Fund, of all of the issued and outstanding common shares of Canexus (the "Common Shares") at a price of $1.65 per Common Share. Announcement of a transaction is subject to, among other things, the negotiation and execution of a definitive transaction agreement and voting support agreements and approval by the boards of each of Chemtrade and Canexus. There can be no assurance that any transaction will result from these discussions.
Chemtrade has no intention of providing any further updates with respect to its ongoing discussions with Canexus, except as may be required by law.
Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America's largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium nitrite, sodium hydrosulphite and phosphorus pentasulphide. Chemtrade is a leading regional supplier of sulphur, sodium chlorate, liquid sulphur dioxide, potassium chloride, and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.
This news release does not constitute an offer to buy or the solicitation of an offer to sell any of the securities of Chemtrade or Canexus.
SOURCE Chemtrade Logistics Income Fund
For further information: Mark Davis, President and CEO, Tel: (416) 496-4176; Rohit Bhardwaj, Vice-President, Finance & CFO, Tel: (416) 496-4177; Shareholder Contact: Evolution Proxy, Inc., 1-844-226-3222 (North American Toll Free Number), +1-416-855-0238 (outside North America), [email protected], www.CanexusOffer.com; Media Contact: Bayfield Strategy, Inc., Riyaz Lalani, +1-416-907-9365, [email protected]