1. business and industrial
2. energy
3. oil
4. oil and gas prices

NEWS RELEASE
FOR IMMEDIATE RELEASE
Canexus Announces 2015 First Quarter Results
Calgary, Alberta – May 6, 2015 – Canexus Corporation (TSX: CUS) (the “Corporation”
or “Canexus”) today announced its financial results for the first quarter ended March 31,
2015.
Highlights:




Cash Operating Profit (“COP”) was $26.9 million for the quarter ended March 31,
2015 (Q4/14 - $20.7 million; Q1/14 - $22.2 million). Our Q1/15 results reflect the
benefit of the weaker Canadian dollar on both our North American Sodium
Chlorate and Brazil business units; improved North American Chlor-alkali metric
electrochemical unit (“MECU”) production and sales volume over the prior
quarter, offset by reduced hydrochloric acid (“HCl”) sales volume; and a cash
operating loss at our North American Terminal Operations (“NATO”) due to the
continued ramp up of unit train operations, somewhat lower manifest transload
volumes as compared to the prior quarter (including both assembled unit trains
and manifest cars) and severance costs incurred to reduce the workforce at
NATO. COP for the quarter was negatively affected by $2.7 million of severance
costs incurred with the commencement of the Business Improvement Program
(“BIP”) discussed further below.
As announced previously, Canexus initiated the organizational right-sizing that
was outlined in our BIP, with a significant reduction in Calgary head office and
NATO staff. The ongoing benefits will start to be realized in Q2/15. This program
is expected to improve COP by $10 million to $15 million annually from cost
reduction and improved plant uptime. The full benefit is expected to be realized in
2016 and future years. Additionally, we plan to lower our investment in
normalized working capital by not less than $10 million by the end of 2015 and to
contain maintenance capital spending in future years to not more than $25 million
(running average over a three year period) while improving operating reliability
and manufacturing conversion efficiency.
The Corporation continues to hold discussions with North American parties
regarding the potential sale of NATO and our North American Chlor-alkali
business at North Vancouver. Given current industry and market conditions, the
estimated realizable value of NATO, based on recent expressions of interest, is
substantially below recent research analyst estimates. There is no assurance
that a transaction for either or both of these assets, if pursued, will be concluded.
Canexus’ North American Sodium Chlorate business posted solid performance in
the first quarter. COP was $16.6 million (Q4/14 - $13.8 million; Q1/14 - $15.2
million) despite lower production at our industry-leading, low-cost Brandon plant.





The failure of a copper buss bar resulted in the loss of about 2,700 metric tonnes
(“MT”) of production. The plant returned to normal operating rates in March. This
business unit is currently benefiting from the devaluation of the Canadian dollar
relative to the US dollar, with approximately two-thirds of our sales volume
exported to the US. North American sodium chlorate industry operating rates are
expected to remain in the low 90% range in 2015, assuming no capacity
rationalization.
Canexus’ North American Chlor-alkali business generated $8.1 million in COP for
the quarter (Q4/14 - $7.4 million; Q1/14 - $5.3 million). MECU production
volumes increased over the prior quarter as we continue to recoat the anodes in
the electrolytic cells (4 of 7 electrolytic cells have been recoated to date). The
plant is currently operating at approximately 84% of practical capacity and we
expect to be able to return to full operating rates in Q3/15. As expected, HCl
sales volume and prices declined significantly through the first quarter. We
estimate that demand from the oil and gas sector is down about 35%. There is a
significant backlog of drilled but uncompleted wells that could result in a rapid
increase in HCl demand should oil prices improve later in the year. Price
increase settlements for Q2/15 for chlorine and caustic soda ranged from $20/MT
to $50/MT as contracts allowed. The caustic modernization project at North
Vancouver is expected to be completed on schedule in October and is currently
tracking below budget.
Canexus’ Brazil operations generated COP of $7.0 million in the quarter (Q4/14 $6.0 million; Q1/14 - $7.6 million). Brazil’s operations continue to be highly stable
with our primary customer running at high rates resulting in strong demand for
our products which are sold under a long-term, cost plus, fixed US dollar margin
contract.
At the NATO unit train facility, Canexus loaded 46 unit trains in the quarter
(Q4/14 – 31 unit trains) and set a monthly record of 17 unit trains in March.
March results included 4 unit trains on a spot basis. In conjunction with the BIP
initiative, we are actively looking to further reduce our cost structure and are
exploring options to increase unit train activity levels. At the currently contracted
level commencing Q3/15 of 5.5 unit trains per week (assuming full nominations),
this facility should break even or be slightly positive from a COP perspective. As
announced previously, full nominations were not received for Q2/15 and
Canexus is currently pursuing spot contract opportunities. One unit train was
contracted on a spot basis in April.
During the first quarter, the NATO manifest (truck-to-rail) operation loaded and
assembled 11 unit trains for customers (Q4/14 – 7 unit trains) and is scheduled
to load and assemble 12 unit trains in Q2/15. Operating rates for dilbit and crude
oil (“DBCO”) transloading continue to be about one-third of our capacity of
30,000 bbls/day (including both assembled unit trains and manifest cars). The
reductions in NATO staff mentioned above better align our workforce with activity
levels across the entire NATO site and we continue to pursue further cost
reduction opportunities. Also, we expect to see higher transload volumes for
butane with a new one year take-or-pay contract that commenced in April.
The Board of Directors declared a quarterly dividend of $0.01 per common share
payable July 15, 2015 to shareholders of record on June 30, 2015.
“I am pleased with first quarter financial results and the progress being made on our
Business Improvement Program”, commented Doug Wonnacott, President and CEO.
“Energy market conditions are likely to continue to challenge business performance at
NATO and in our North America Chlor-alkali business unit, and I expect weaker second
quarter results. Given this environment, the success and timing of a disposition of
NATO or our North American Chlor-alkali business is uncertain. We will continue to
focus on what we can reasonably control to reduce debt, improve business performance
and leverage our impressive portfolio of chemical assets to move Canexus forward.”
Distributable Cash
CAD thousands, except as noted
Cash Operating Profit
Interest Expense
Three M onths Ended
M arch 31
2015
2014
26,900
(7,425)
22,243
(1,982)
(1)
(9,099)
M aintenance Capital Expenditures
(4,667)
(4,269)
Provision for Current Incom e Taxes
(1,740)
(1,873)
Realized Foreign Currency Translation Losses
Pension Funding Low er Than (in Excess of) Pension Expense
Severance Costs
Other
Distributable Cash
891
1,446
(2,238)
13,166
(904)
3,180
(315)
6,981
Distributable Cash Per Share
0.07
0.04
Dividends Declared Per Share
0.01
0.1368
Cash Payout Ratio (Net of DRIP Participation)
11%
269%
Payout Ratio
14%
354%
Below is a reconciliation of net cash generated from (used in) operating activities to
Distributable Cash of the Corporation for the three months ended March 31, 2015 and
2014.
CAD thousands
Net Cash Generated from (Used In) Operating Activities
Change in Non-Cash Operating Working Capital
Non-Cash Change in Incom e Tax Payable and Interest Payable
Interest Incom e
Three M onths Ended
M arch 31
2015
41,256
(19,762)
(5,187)
249
2014
(7,332)
15,690
(207)
66
M aintenance Capital Expenditures
(4,667)
(4,269)
Severance Costs
1,446
3,180
Operating Non-Cash Items
Distributable Cash
(169)
13,166
(147)
6,981
Segmented Information for the Three Months Ended March 31, 2015 and 2014
Canexus has a total of six electrochemical manufacturing plants – four in Canada and
two at one site in Brazil – organized into three business units. Canexus also provides
fee-for-service hydrocarbon transloading at its NATO terminal in Bruderheim, Alberta as
a separate business unit. Below is our first quarter performance by segment.
Three M onths Ended
M arch 31, 2015
North Am erica
Sodium
ChlorChlorate
alkali
South
Am erica
NATO
Other
Total
Sales Revenue
Total Segm ent
Inter-Segm ent (1)(2)
Total Sales Revenue from External
Custom ers
Cost of Sales
62,785
51,667
25,282
10,993
-
150,727
77
-
-
498
-
575
62,708
51,667
25,282
10,495
-
150,152
37,027
28,104
20,212
14,644
49
100,036
9,289
16,627
168
1,354
458
27,896
-
575
-
-
-
575
9,289
16,052
168
1,354
458
27,321
3,314
4,136
934
160
1,564
10,108
13,078
3,375
3,968
(5,663)
(2,071)
12,687
3,531
4,746
3,008
3,132
197
14,614
-
-
-
-
16,609
8,121
6,976
(2,531)
26%
16%
28%
(24%)
Distribution, Selling and M arketing
Total Segm ent
Inter-Segm ent
Total External Distribution, Selling and
M arketing
General and Administrative
Operating Profit (Loss)
Add:
Depreciation and Am ortization
Share-based Com pensation Recovery
Cash Operating Profit (Loss)
Cash Operating Profit (Loss) Percentage
Three M onths Ended
M arch 31, 2014
North Am erica
Sodium
ChlorChlorate
alkali
(401)
(2,275)
(401)
26,900
18%
South
Am erica
NATO
Other
Total
Sales Revenue
Total Segm ent
Inter-Segm ent
Total Sales Revenue from External
Custom ers
Cost of Sales
59,020
50,399
23,498
8,299
-
141,216
86
-
-
613
-
699
58,934
50,399
23,498
7,686
-
140,517
35,262
30,535
17,237
7,489
56
90,579
8,490
17,520
235
1,712
662
28,619
-
699
-
-
-
699
8,490
16,821
235
1,712
662
27,920
3,004
3,665
Distribution, Selling and M arketing
Total Segm ent
(1) (2)
Inter-Segm ent
Total External Distribution, Selling and
M arketing
General and Administrative
Operating Profit (Loss)
12,178
(622)
143
4,916
12,455
5,299
727
(1,658)
(5,634)
9,563
282
13,237
Add:
Depreciation and Am ortization
Share-based Com pensation Recovery
Cash Operating Profit (Loss)
Cash Operating Profit Percentage
3,050
5,890
2,320
1,695
-
-
-
-
(557)
15,228
5,268
7,619
37
(5,909)
26%
10%
32%
-
(557)
22,243
16%
Notes:
(1)
The North America Sodium Chlorate operating segment (i) sells sodium chlorate at market rates to the South America operating segment and
(ii) provides transloading services at market rates to the North America Chlor-alkali (“ NACA” ) operating segment for caustic soda transloaded
from barges into trucks for delivery to NACA customers that are eliminated for financial reporting purposes.
(2)
NATO charges transloading fees (approximating market rates charged by third party terminals) to the North America Chlor-alkali operating
segment for hydrochloric acid and caustic soda transloaded from railcars into trucks for delivery to North America Chlor-alkali customers that are
eliminated for financial reporting purposes.
Highlights for each business unit are as follows:

North America Sodium Chlorate:
o Q1 2015 versus Q4 2014: Sales revenue for the North America sodium chlorate
segment increased 4% as a result of higher delivered prices (5%) offset by slightly
lower sales volumes (2%). The weakening of the Canadian dollar (Q1 2015 – US
$0.83 as compared to US $0.90 for Q4 2014) contributed to higher realized
delivered prices. Cash Operating Profit Percentage increased from 23% to 26%
as a result of higher realized netback prices (4%) and lower fixed costs, partially
offset by lower production volumes from our low-cost Brandon plant. Fixed costs
for Q4 2014 included $1.3 million related to the write-down of materials and
supplies inventory with no comparable write-downs occurring in Q1 2015.
o Q1 2015 versus Q1 2014: Sales revenue increased 6% in Q1 2015 as compared
to Q1 2014. The weakening of the Canadian dollar (Q1 2015 – US $0.83 as
compared to US $0.92 for Q1 2014) contributed to increased realized delivered
prices (7%) which were offset by slightly lower sales volumes (1%). Cash
Operating Profit Percentage remained consistent at 26% with higher realized
netback prices (7%) offset by lower production volumes (5%) primarily at our lowcost Brandon plant, higher general and administrative costs allocated to this
business and slightly higher fixed costs.

North America Chlor-alkali:
o Q1 2015 versus Q4 2014: Sales revenue for the North America chlor-alkali
segment declined 2% due to lower HCl sales volumes (13%) more than offsetting
higher chlorine and caustic soda sales volumes (39% and 3%, respectively) and
higher chlorine delivered prices (18%). The decline in HCl sales volumes related
primarily to the Canadian market and was associated with lower demand from the
oil and gas sector as commodity prices continued to be under pressure, resulting
in reduced drilling and hydraulic fracturing activity. Cash Operating Profit
Percentage increased from 14% to 16% as a result of higher MECU production
volumes (8%), lower purchased product costs and lower fixed costs more than
offsetting lower MECU realized netbacks (6%) and higher general and
administrative costs allocated to this business.
o Q1 2015 versus Q1 2014: Sales revenue for the North America chlor-alkali
segment increased 3% due to higher HCl and chlorine delivered prices (23% and
27% respectively) being offset by lower HCl and chlorine sales volumes (26% and
13%, respectively). Cash Operating Profit Percentage increased from 10% to 16%
as a result of higher MECU realized netback prices (9%) and lower non-electricity
energy and fixed costs being partially offset by lower MECU production volumes
(8%) and higher general and administrative costs allocated to this business.

South America:
o Q1 2015 versus Q4 2014: Sales revenue for the South America segment
increased 18% primarily due to higher sales volumes (sodium chlorate – 6% and
sodium hypochlorite – 4%) and higher realized delivered prices (sodium chlorate
– 30%, caustic soda – 8% and chlorine – 4%) more than offsetting lower chlorine,
caustic soda and HCl sales volumes (12%, 5% and 5%, respectively). Realized
delivered prices under our US dollar fixed margin contract benefited from the
weaker Canadian dollar in Q1. Cash Operating Profit Percentage remained
consistent at 28% as a result of lower production volumes, higher purchased
product costs and higher salt costs being offset by lower fixed costs and the
benefit of the weaker Canadian dollar on our US dollar fixed margin sales.
Production volumes in Q1 2015 were negatively impacted by maintenance
shutdowns at both the Corporation’s chlor-alkali facility and our major customer’s
production facility.
o Q1 2015 versus Q1 2014: Sales revenue for the South America segment
increased 8% due to higher realized delivered prices (sodium chlorate – 15%,
chlorine – 9% and caustic soda – 2%) more than offsetting lower sales volumes
(chlorine – 17%, sodium chlorate – 5% and HCl – 5%). Cash Operating Profit
Percentage decreased to 28% from 32% as a result of higher fixed costs, lower
production volumes and higher purchased product costs, more than offsetting the
benefit of the weaker Canadian dollar on our US dollar fixed margin sales.

North American Terminal Operations:
o Q1 2015 versus Q4 2014: Cash Operating Loss for Q1 2015 was $2 million,
inclusive of transloading services of $0.5 million for inter-segment chlor-alkali
products, as compared to $2.5 million, inclusive of transloading services of $0.6
million for inter-segment chlor-alkali products, for Q4 2014. External sales
revenue increased 28% as a result of higher unit train throughput volumes (63%)
related to improved loading times following the completion of commissioning
activities associated with the capacity expansion and tie in to the Cold Lake
pipeline system in September 2014 and resulting ability to service full contractual
volumes plus spot demand. Cash cost of sales (cost of sales before depreciation
and amortization included in cost of sales) comprise fixed costs including
employee costs, pipeline fixed fee and operating costs and other costs of
operating the Bruderheim Terminal. The increase in cash cost of sales was
primarily due to higher property tax estimates ($0.6 million), higher pipeline
operating costs ($0.2 million) and higher employee costs ($0.4 million) including
one-time costs associated with the implementation of the BIP.
o Q1 2015 versus Q1 2014: Cash Operating Loss for Q1 2015 was $2 million,
inclusive of transloading services of $0.5 million for inter-segment chlor-alkali
products, as compared to COP of $0.7 million, inclusive of transloading services
of $0.6 million for inter-segment chlor-alkali products, for Q1 2014. External sales
revenue increased 37% for the same period as a result of the higher unit train
throughput volumes (140%) following the completion of the capacity expansion
and tie in to the Cold Lake pipeline system in September 2014. Completion of
commissioning activities, improved loading times and spot market demand in Q1
2015 further increased unit train throughput volumes. The increase in cash cost
of sales was primarily due to the completion of the pipeline lateral off the Cold
Lake pipeline system from Beaverhill Station to Lamont Station in July 2014,
higher employee costs including one-time costs associated the implementation of
the BIP and higher property taxes. Upon completion of the pipeline lateral noted
above, the Corporation became responsible for the pipeline fixed fee and other
costs associated with the connection.
General Market Fundamentals
North America Sodium Chlorate: For Q1 2015, global pulp shipments have increased
by over 6% as compared to Q1 2014. Most of the increase was driven by demand for
hardwood pulp, while China remains the region with the highest demand growth.
Combined producer inventory levels have declined steadily from their peak in January
of 40 days to their current level of 36 days. Softwood inventory stands at 33 days
slightly, above historical averages, whereas hardwood inventory is at 38 days.
Combined inventory levels are expected to decline further over the next quarter as
major producing regions enter their annual maintenance season.
The North American demand for sodium chlorate was strong in Q1 2015 benefiting from
the restart of a recently idled pulp mill in the North Eastern United States. Sodium
chlorate exports from North America for the first two months of the year were slightly
above prior year levels and operating rates for the industry were slightly higher than the
previous quarter, but remained in the low 90% range, where they are expected to
remain through 2015.
North America Chlor-alkali: Consistent with Q4 2014, the North American chlor-alkali
industry continued to operate at 80% of capacity in Q1 2015. As expected, based on
historical results, chlorine demand was impacted by lower consumption from the vinyls
segment and seasonal factors in the water treatment segment. Caustic soda production
and demand in Q1 was consistent with Q4.
HCl supply increased in Q1 2015 due to higher operating rates of by product producers
and chlorine availability for burner producers. At the same time, HCl demand declined
significantly due to lower drilling and hydraulic fracturing activity in the oil and gas
industry as a result of lower oil and gas commodity prices.
Pricing on a MECU basis (before the impact of HCl) remained stable in Q1 2015 and is
expected to increase in Q2 2015 due to improving chlorine and caustic prices. HCl
prices declined in Q1 2015 due to the weak supply/demand fundamentals outlined
above.
South America: During Q1 2015, Brazilian pulp production and exports increased by
7% and 19.9%, respectively, compared to Q1 2014.
Sodium chlorate demand from Canexus Brazil’s major customer was slightly lower in
Q1 than expected. The Brazilian chlor-alkali capacity utilization rate was at 84% in Q1
2015; 2.7% lower than Q1 2014. Canexus Brazil’s chlor-alkali capacity utilization was
92% for Q1 2015.
Oil & Gas: Market conditions for heavy oil remained unfavorable in Q1 2015 due to the
continued weakness in West Texas Intermediate (“WTI”) pricing. The differential
between Western Canadian Select (“WCS”) and WTI averaged US$14.74/bbl in the first
quarter as compared to US$14.24/bbl in Q4 2014.
Oil prices and differentials are expected to remain challenging for the remainder of 2015
and are expected to have a negative impact on crude by rail volumes. This is, however,
expected to be partially offset by delays related to pipeline capacity improvements and
expansion projects.
Financial Updates

Long-term Debt and Finance Expense:
o Canexus has US dollar borrowings and a substantial portion of our revenues are
denominated in or referenced to the US dollar. During Q1/15, we recorded an
unrealized currency translation loss of $24.3 million on long-term debt as a result
of the weaker Canadian dollar at the end of the quarter compared to the end of
Q4/14 (Q1/14 - $4.2 million unrealized loss). In Q1/14, $9.4 million of realized
foreign currency translation losses (Q1/15 - $nil) were recognized on repayment
of US dollar borrowings. These amounts are included in finance income
(expense).
o Interest expense in the quarter was $7.4 million (Q1/14 - $2 million). Interest
capitalized on major projects was $0.1 million in Q1/15 (Q1/14 - $2.7 million).

Other Income (Expense):
o In Q1/15, mark-to-market fair value gains of $0.7 million (Q1/14 – mark–to-market
fair value losses of $0.6 million) and realized losses of $1.8 million (Q1/14 - $0.5
million) were recorded on average rate range forward contracts.
o In Q1/15, we recorded mark-to-market fair value losses on a cross currency swap
of $1.4 million as a result of the weaker Canadian dollar at the end of the quarter
compared to the end of Q4/14 (Q1/14 - $0.6 million) and realized losses of $0.2
million (Q1/14 - $0.1 million). In Q3/11, we entered into a cross currency swap to
effect the payment of interest in US dollars on the Series IV Convertible
Debentures issued on June 30, 2011.

General and Administrative: General and administrative expenses were lower for
Q1/15 as compared to Q1/14 primarily as a result of higher severance costs in
Q1/14.

Capital Expenditures: Capital expenditures in Q1/15 were $13.4 million, of which
$3.4 million was spent on expansion projects, $4.6 million on maintenance projects
and $5.4 million on continuous improvement projects. Expansion capital was
primarily spent on the NATO unit train project and continuous improvement capital
on the caustic modernization project underway at our North Vancouver chlor-alkali
facility.

Provision for (Recovery of) Income Taxes: The deferred tax recovery in Q1/15
resulted from book depreciation exceeding tax depreciation. As of March 31, 2015,
the Corporation had approximately $875.6 million of future tax deductions which can
be used to shelter future taxable income in Canada.

Liquidity: At March 31, 2015, total borrowings under committed credit facilities were
$356 million with remaining available undrawn capacity of approximately $104
million. Cash on hand at March 31, 2015 was $6.8 million.
Operating Results for the Three Months Ended March 31, 2015 and 2014
Three M onths Ended
M arch 31
CAD thousands
2015
2014
Sales Revenue
150,152
140,517
Cost of Sales (1)
100,036
90,579
Gross Profit
50,116
49,938
Distribution, Selling and M arketing
27,321
27,920
General and Administrative (2)
10,108
12,455
Operating Profit
12,687
9,563
Finance Expense
(14,684)
(15,542)
Other Incom e (Expense)
(2,608)
532
Loss Before Incom e Taxes
(4,605)
(5,447)
1,740
1,873
Provision for (Recovery of) Incom e Taxes
Current
Deferred
Net Loss
(413)
1
1,327
1,874
(5,932)
(7,321)
Notes:
(1)
Depreciation and Amortization included in the three months ended M arch 31, 2015 - $14.4. million (three months ended M arch 31, 2014 – $12.9
million.
(2)
Depreciation and Amortization included for the three months ended M arch 31, 2015 - $0.2 million (three months ended M arch 31, 2014 - $0.3
million)
Financial Statements, Conference Call and Webcast
Financial Statements and Management’s Discussion and Analysis (“MD&A”) will be
posted on the Canexus website at www.canexus.ca and filed on SEDAR. Management
will host a conference call and webcast at 7 am MT (9 am ET) on May 7, 2015, to
discuss the financial and operating results of the Corporation. A presentation will be
available on our website to facilitate the conference call. Please call 1-416-340-8530 or
1-800-446-4472 outside of Canada and the USA. The conference call will also be
accessible via webcast at www.canexus.ca or by following the link
http://www.gowebcasting.com/6468. A replay of the conference call will be available
until end of day ET on May 14, 2015. To access the replay call 1-800-408-3053 or 1905-694-9451, outside of Canada and the USA, followed by passcode 2940143#.
Non-GAAP Measures
Cash operating profit, cash operating profit percentage, payout ratio, cash payout ratio
and distributable cash are financial measures not determined in accordance with
generally accepted accounting principles for publicly accountable enterprises in Canada
(“GAAP”), but management believes they are useful in measuring the Corporation’s
performance. Readers are cautioned that these measures should not be construed as
alternatives to net income or loss or other comparable measures determined in
accordance with GAAP as an indicator of the Corporation’s performance or as a
measure of the Corporation’s liquidity and cash flow. The Corporation’s method of
calculating non-GAAP measures may differ from the methods used by other issuers and
accordingly, the Corporation’s non-GAAP measures are unlikely to be comparable to
similarly titled measures used by other issuers. Readers should consult the
Corporation’s MD&A for the three months ended March 31, 2015 filed on SEDAR for a
complete explanation of how the Corporation calculates each such non-GAAP measure.
Forward-Looking Statements
This news release contains forward-looking statements and information relating to
expected future events and financial and operating results of the Corporation and its
subsidiaries, including with respect to: the impact of BIP on improved COP and the
timing thereof; reductions in investment in normalized working capital and the
containment of maintenance capital spending and the timing thereof; improvements in
operating reliability and manufacturing conversion efficiency; North American sodium
chlorate operating rates in 2015; North American sodium chlorate capacity
rationalization; full operating rates for North American chlor-alkali and the timing thereof;
HCl demand; price increases for chlorine and caustic soda; the timing and cost of
completion of the caustic modernization project at North Vancouver; NATO activity
levels and the impact on COP; transload volumes for butane; organizational right-sizing;
energy market conditions and the impact on NATO, North American chlor-alkali and
crude by rail volumes; the potential sale of NATO and our chlor-alkali business at North
Vancouver, including the estimated realizable value of NATO; softwood inventory levels
and sodium chlorate exports from North America. 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.
Forward-looking 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, the Corporation 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. Any financial outlook information
contained in this news release about prospective results of operations, financial position
or cash flows is based on assumptions about future events, including economic
conditions and proposed courses of action, based on Management’s assessment of the
relevant information currently available. Readers are cautioned that such financial
outlook information contained in this news release should not be used for purposes
other than those for which it is disclosed herein.
About Canexus
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® 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.
- 30 Further Information:
Dean R. Beacon
Senior Vice President, Finance and CFO
Canexus Corporation
(403) 571-7300
Robin Greschner
Investor Relations
Canexus Corporation
(403) 571-7356