CALGARY, ALBERTA, Sep 26, 2014 (Marketwired via COMTEX) — Canexus Corporation (TSX: CUS) (the “Corporation” or “Canexus”) today announced first receipt of Cold Lake Blend (“CLB”) product, following completion of the tie-in of the Cold Lake pipeline system to its North American Terminal Operations (“NATO”). The NATO facility is now capable of loading both Access Western Blend product from MEG Energy Corp.’s Stonefell Terminal and CLB from Lamont Station.
“I am very pleased to be loading unit trains at NATO once again,” said Doug Wonnacott, President and CEO. “With the commissioning and start-up of the expanded facility completed, we can now focus on ramping up to our contracted volumes of six to seven unit trains per week and generating meaningful cash flow from this asset. Our next milestones will be to work towards NATO’s planned and potential/design capacities of 10.5 to 14 unit trains per week, respectively,” stated Mr. Wonnacott.
This news release contains forward-looking statements and information relating to expected future events relating to Canexus and its subsidiaries, including with respect to expectations for the ramp up to contracted capacity and the generation of meaningful cash flow at NATO. The use of the words “expects”, “anticipates”, “continue”, “estimates”, “projects”, “should”, “believe”, “plans”, “intends”, “may”, “will” or similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including market and general economic conditions, future costs, treatment under governmental regulatory, tax and environmental regimes and the other risks and uncertainties detailed under “Risk Factors” in the Corporation’s Annual Information Form filed on the Corporation’s SEDAR profile at www.sedar.com. Management believes the expectations reflected in these forward-looking statements are currently reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Due to the potential impact of these factors, Canexus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
Canexus produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries. Our four plants in Canada and two at one site in Brazil are reliable, low-cost, strategically located facilities that capitalize on competitive electricity costs and transportation infrastructure to minimize production and delivery costs. Canexus also provides fee-for-service hydrocarbon transloading services to the oil and gas industry from its terminal at Bruderheim, Alberta. Canexus targets opportunities to maximize shareholder returns and delivers high-quality products to its customers and is committed to Responsible Care(R) through safe operating practices. Canexus’ common shares (CUS) and debentures (Series III – CUS.DB.A; Series IV – CUS.DB.B; Series V – CUS.DB.C; Series VI – CUS.DB.D) trade on the Toronto Stock Exchange. More information about Canexus is available at www.canexus.ca .