Resolute Updates Status of Fibrek Offer
March 15 2012 - 10:01AM
PR Newswire (Canada)
MONTREAL, March 15, 2012 /CNW Telbec/ - AbitibiBowater Inc., doing
business as Resolute Forest Products ("Resolute") , today announced
that it has received a favorable decision from the federal Minister
of Industry, following his review of the Company's proposed
acquisition of Fibrek Inc. under the Investment Canada Act. 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 "SEDAR" website maintained by the
Canadian Securities Administrators, as varied and extended. The
offer will expire at 5:00 p.m. (Eastern Standard Time) on March 19,
2012, unless it is extended or withdrawn by Resolute. Questions and
requests for assistance or further information on how to tender
Fibrek common shares to the offer should be directed to, and copies
of the above referenced documents may be obtained by contacting,
Georgeson at 1-866-598-0048 or by email at askus@georgeson.com.
Important Notice This press release does not constitute an offer to
sell or the solicitation of an offer to buy any securities or a
solicitation of any vote or approval. Resolute has filed with
the SEC a registration statement on Form S-4, as amended, in
connection with the proposed transaction with Fibrek.
INVESTORS AND SECURITY HOLDERS OF RESOLUTE AND FIBREK ARE URGED TO
READ THESE DOCUMENTS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS
THERETO, AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH
THE SEC CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTION. Such documents are available free of
charge through the web site maintained by the SEC at www.sec.gov,
by calling the SEC at telephone number 800-SEC-0330, on SEDAR at
www.sedar.com or on Resolute's website at www.resolutefp.com. About
Resolute Forest Products Resolute is a global leader in the forest
products industry with a diverse range of products, including
newsprint, commercial printing papers, market pulp and wood
products. Resolute owns or operates 18 pulp and paper mills and 23
wood product facilities in the United States, Canada and South
Korea. Marketing its products in close to 90 countries, Resolute
has third-party certified 100% of its managed woodlands to
sustainable forest management standards. The shares of Resolute
trade under the stock symbol ABH on both the New York Stock
Exchange and the Toronto Stock Exchange. Resolute and other member
companies of the Forest Products Association of Canada, as well as
a number of environmental organizations, are partners in the
Canadian Boreal Forest Agreement. The group works to identify
solutions to conservation issues that meet the goal of balancing
equally the three pillars of sustainability linked to human
activities: economic, social and environmental. Resolute is also a
member of the World Wildlife Fund's Climate Savers program, in
which businesses establish ambitious targets to voluntarily reduce
greenhouse gas emissions and work aggressively toward achieving
them. Cautionary Statements Regarding Forward-looking Information
Statements in this press release that are not reported financial
results or other historical information of AbitibiBowater Inc.,
doing business as Resolute Forest Products, are "forward-looking
statements" and may be identified by the use of forward-looking
terminology such as the words "should", "would", "could", "will",
"may", "expect", "believe", "anticipate", "attempt", "project" and
other terms with similar meaning indicating possible future events
or potential impact on Resolute's business or shareholders,
including future operations following the proposed acquisition of
Fibrek. The safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 do not apply to any forward-looking
statements made in connection with an exchange offer. The reader is
cautioned not to place undue reliance on these forward-looking
statements, which are not guarantees of future performance. These
statements are based on management's current assumptions, beliefs
and expectations, all of which involve a number of business risks
and uncertainties that could cause actual results to differ
materially. The potential risks and uncertainties that could cause
Resolute's actual future financial condition, results of operations
and performance to differ materially from those expressed or
implied in this press release include, but are not limited to,
Resolute Common Stock issued in connection with the proposed
acquisition may have a market value lower than expected, the
businesses of Resolute and Fibrek may not be integrated
successfully or such integration may be more difficult,
time-consuming or costly than expected, the possible delay in the
completion of the steps required to be taken for the eventual
combination of the two companies, including the possibility that
approvals or clearances required to be obtained from regulatory and
other agencies and bodies will not be obtained in a timely manner,
disruption from the proposed transaction making it more difficult
to maintain relationships with customers, employees and suppliers,
and all other potential risks and uncertainties set forth under the
heading "Risk Factors" in Part I, Item 1A of Resolute's annual
report on Form 10-K for the year ended December 31, 2011, filed
with the SEC and Resolute's other filings with the Canadian
securities regulatory authorities. All forward-looking statements
in this press release are expressly qualified by the cautionary
statements contained or referred to above and in Resolute's other
filings with the SEC and the Canadian securities regulatory
authorities. Resolute disclaims any obligation to publicly update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by
law. RESOLUTE FOREST PRODUCTS CONTACT: ContactsInvestorsRemi G.
LalondeVice President, Investor Relations514
394-2345ir@resolutefp.comMedia and OthersXavier Van ChauDirector,
Communications and Corporate Social Responsibility514
394-3611xavier.vanchau@resolutefp.com
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