International Zeolite Corp. V.CNZ

hmmm good and bad news.... errrrr

[moe_money]

The Company advises that under all options currently being considered for a Plan of Arrangement and the Company's emergence from CCAA protection, shareholders of the Company are anticipated to receive only nominal, if any, consideration for their existing shares Second Quarter Results Results for the second quarter of 2004 showed a net loss of $ 0.9 million (or $ 0.04 per share) compared to a net loss of $ 5.9 million (or $ 0.18 per share) for the same period last year. For continuing operations, the Company recorded a net loss of $ 0.9 million (or $ 0.04 per share) compared to a net loss of $ 5.6 million (or $ 0.17 per share) in the prior year. Included in the net loss for the second quarter of 2004 are $ 1.1 million of reorganizing expenses, incurred as a result of the CCAA Proceedings and primarily consisting of professional fees.