Resolute Announces That Fibrek's Special Warrants To Mercer Have Been Cease Traded
Feb. 23, 2012 (Press Release) AbitibiBowater Inc., doing business as Resolute Forest Products ("Resolute") announced that the Bureau de decision et de revision (Quebec) has accepted, with immediate effect, the Company's application to cease trade Fibrek Inc.'s ("Fibrek") private placement of 32,320,000 special warrants to Mercer International Inc.("Mercer").
Resolute also announced today that it has extended to March 9, 2012 the expiry date for its offer to acquire all the issued and outstanding common shares of Fibrek. The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the Canadian Securities Administrators' website ("SEDAR"), as varied and extended. The offer will expire at 5:00 p.m. (Eastern Standard Time) on March 9, 2012, unless it is extended or withdrawn by Resolute.
Resolute continues to work diligently to obtain all required approvals from the Canadian regulatory authorities. As of the close of business on February 23, 2012 approximately 67 million common shares of Fibrek had been deposited to Resolute's offer, representing approximately 51.5% of the outstanding common shares.
SOURCE: Resolute Forest Products