Markets

Fibrek Wins Appeal; Resolute To Appeal, Extends Offer

Fibrek Inc. (FBK.TO) announced that a court has overturned on appeal the decision granting an order to cease trade the proposed private placement of 32,320,000 special warrants to purchase common shares of Fibrek to Mercer International Inc. (MRI-U.TO) further to an application filed by AbitibiBowater Inc. (ABH.TO), doing business as Resolute Forest Products.

Fibrek anticipates closing of the Private Placement to occur as soon as practicable upon receipt of all necessary regulatory approvals. The Private Placement is subject to the approval of the Toronto Stock Exchange.

The Board of Directors continues to unanimously recommend that shareholders ACCEPT and TENDER their common shares to Mercer's $1.30 offer and to REJECT and NOT TENDER their common shares to Abitibi's unsolicited $1.00 insider bid. If shareholders have tendered their shares to the Abitibi insider bid, the Board recommends that they WITHDRAW them immediately.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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