CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

Superior Plus to acquire Canexus

[BlueCollar51]

Canexus Announces Business Combination With Superior Plus Corp.

CALGARY, AB--(Marketwired - October 06, 2015) - Canexus Corporation (TSX: CUS) (the "Corporation" or "Canexus") is pleased to announce that it has entered into an arrangement agreement (the "Arrangement Agreement") with Superior Plus Corp. ("Superior"), pursuant to which Superior has agreed to acquire all of the issued and outstanding common shares of Canexus ("Canexus Shares") for a value at announcement of approximately $1.70 per Canexus Share (the "Transaction), payable in common shares of Superior ("Superior Shares"). Pursuant to the Arrangement Agreement, Canexus shareholders will receive 0.153 (the "Exchange Ratio") of a Superior Share for each Canexus Share, representing the equivalent of $1.70 per Canexus Share on the 20-day volume weighted-average-price ("VWAP") of Superior Shares. This represents a premium of 36.5% based on the 20-day VWAP of the Superior Shares and the Canexus Shares on The Toronto Stock Exchange ("TSX") as of October 5, 2015 and a premium of 47.6% based on the closing prices of the Superior Shares and the Canexus Shares on the TSX on October 5, 2015.

[Kherson]

At least the management and BOD will get a nice Change of Control payout! Sadly, the long term shareholders just got taken and Doug's "building shareholder value" mantra meant nothing... I still wonder what those 3rd Quarter financials are gonna look like? What is odd is that no money is changing hands... Kherson