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Tolko Industries announces offer for Riverside

Vernon, BC — Tolko Industries announced its intention to make an offer to purchase all the outstanding shares of R…

Vernon, BC — Tolko Industries announced its intention to make an offer to purchase all the outstanding shares of Riverside Forest Products for $29 per share in cash. Tolko is the second largest shareholder of Riverside, holding 1.758 million or 18.6% of the approximately 9.4 million Riverside shares outstanding. The total value of the transaction is estimated at $340 million based on the net debt outstanding of Riverside as of June 30, 2004.
This offer represents a premium of 38% over the weighted average trading price of Riverside’s shares on the Toronto Stock Exchange for the 20 trading days ending August 12, 2004.