Chemtrade Provides Update Regarding Regulatory Approvals Related to its Offer for Canexus Corporation
TORONTO, November 3, 2016 — Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade” or the “Fund”) confirmed today that the Canadian Competition Bureau has issued a supplementary information request (the “SIR”) with respect to the previously announced offer (the “Offer”) by an indirect, wholly-owned subsidiary of Chemtrade (the “Offeror”) to acquire all of the issued and outstanding common shares of Canexus Corporation (TSX:CUS) (“Canexus”). A 30 day statutory waiting period will commence upon the Offeror providing a complete response to the SIR, unless the Commissioner of Competition terminates the waiting period earlier. Chemtrade is in the process of responding to the SIR with a view to having the 30 day statutory waiting period expire before the January 18, 2017 expiry date of the Offer.
Shareholders who have questions about the Offer are encouraged to contact the information agent for the Offer, Evolution Proxy at 1-844-226-3222(North American Toll Free Number) or +1-416-855-0238 (outside North America), or by email at email@example.com.
To learn more, please visit www.CanexusOffer.com.
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, liquid sulphur dioxide, sodium nitrite, sodium hydrosulphite and phosphorus pentasulphide. Chemtrade is a leading regional supplier of sulphur, sodium chlorate, 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.
Caution Regarding Forward-Looking Statements
Although Chemtrade is working diligently to respond to the SIR with a view to having the 30 day statutory waiting period expire before the January 18, 2017 expiry date of the Offer, the timing of the Offer and Chemtrade’s ability to take up shares under the Offer will depend in part on the actions of the Competition Bureau, which are not within Chemtrade’s control. The Offer also remains subject to the satisfaction or waiver by Chemtrade of the conditions of the Offer, including receipt of Competition Act Approval, as defined in the Offer.
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For further information:
President & CEO
Tel: (416) 496-4176
Vice President, Finance & CFO
Tel: (416) 496-4177
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