TORONTO, ON/MARSEILLES, France, Jan. 21, 2015 /CNW/ - Wednesday, January 21, 2015, at the request of IIROC, on behalf of the Toronto Stock Exchange, Foraco International SA (TSX:FAR), is issuing this press release in response to recent unusual trading activity in its shares. While Foraco ordinarily does not comment on market activity or market rumors, Foraco confirms that, as previously disclosed in connection with its third quarter results in 2014, Foraco continues to reassess its debt structure and continues to negotiate with its lenders in France. While currently these negotiations have gone favourably, there can be no assurance or guarantee that these negotiations will result in a completely or materially favourable result to Foraco. Foraco confirms that these negotiations remain ongoing and expects to make further updates as and when able and required. Foraco confirms that it is not aware of any corporate developments, other than as disclosed in this news release."
Jean-Pierre Charmensat Co-CEO & CFO
About Foraco International SA
Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with a presence in 23 countries across five continents. For more information about Foraco, visit www.foraco.com.
SOURCE Foraco International SA
For further information: Brenda Patterson - Mack, Email: [email protected], Tel: (647) 351-5483