Fortress Paper completes purchases under normal course issuer bid

市場: 纸和纤维
八月 19, 2016
Fortress Paper Ltd. announced that, pursuant to its normal course issuer bid announced January 4, 2016 (the "NCIB"), it has purchased for cancellation an aggregate $4,025,000 principal amount of its 6.5% convertible unsecured subordinated debentures due on December 31, 2016 (the "6.5% Debentures"), which represents the maximum amount permitted to be purchased pursuant to the NCIB, at an average cost of 97.1 per 6.5% Debenture.

The Company has also purchased for cancellation an aggregate $6.9 million principal amount of its 7% convertible unsecured subordinated debentures due on December 31, 2019 (the "7% Debentures"), which represents the maximum amount permitted to be purchased pursuant to the NCIB, at an average cost of 76 per 7% Debenture.

The Company relied on the block purchase exemption for certain of its purchases under the NCIB. Following completion of such purchases and cancellation, $36,225,000 principal amount of 6.5% Debentures and $62.1 million principal amount of 7% Debentures remain issued and outstanding.

Fortress Paper operates internationally in two distinct business segments: dissolving pulp and security paper products.



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