CALGARY, AB --(Marketwired - March 10, 2017) - Canexus Corporation (TSX: CUS) ("Canexus" or the "Corporation") announces that the acquisition
of Canexus by an indirect wholly-owned subsidiary of Chemtrade Logistics Income Fund ("Chemtrade") by way of an arrangement under
the Business Corporations Act (Alberta) (the "Arrangement") has been completed.
Under the Arrangement, Chemtrade has acquired all of the issued and outstanding common shares of Canexus for cash
consideration of $1.65 per common share.
As required by the indentures governing Canexus' outstanding indebtedness, Chemtrade will commence offers to acquire the
Canexus convertible debentures and senior notes within 30 days.
Pursuant to the Arrangement, the common shares of Canexus have been converted into Class A redeemable common shares and are
expected to be delisted from the TSX effective at the close of trading on March 13, 2017. Canexus (which will be renamed
Chemtrade Electrochem Inc.) will remain a reporting issuer under applicable Canadian securities law for so long as its
convertible debentures and senior notes remain outstanding.
Following completion of the Arrangement, the board of directors of Canexus has been replaced and consists of Lucio Di
Clemente, Katherine Rethy and Mark Davis.
Copies of certain related documents are available on SEDAR at www.sedar.com
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: expectations regarding delisting of Canexus
shares from the TSX, Chemtrade's offers to acquire Canexus convertible debentures and senior notes and Canexus as Chemtrade
Electrochem Inc. remaining a reporting issuer. These forward-looking statements are based on certain expectations and
assumptions, including assumptions as to the time necessary to satisfy the conditions to the closing of the Transaction. 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