Cambior and Sequoia Merge

On June 28, 2004, shareholders of Sequoia Minerals Inc. approved the amalgamation between Sequoia and 9142-1933 Québec Inc., a wholly-owned subsidiary of Cambior Inc., for a value of approximately $65 million. Pursuant to the terms of the amalgamation, shareholders of Sequoia received, at their option, a cash consideration of $0.60 for each Sequoia share or one Cambior share for each 6.3 Sequoia shares.

Canaccord Capital Corp. was retained by the board of directors of Sequoia to deliver to the board an opinion as to the fairness from a financial point of view of the amalgamation.
Sequoia was represented by Desjardins Ducharme Stein Monast, with a team that included Michel Demers and Odette St-Laurent (corporate finance and securities), and Sophie Martin and Serge Gloutnay (tax).

Cambior was represented in-house by Marc Dagenais, vice-president, legal affairs, and Lucie Desjardins, corporate secretary and senior legal counsel; and assisted by McCarthy Tétrault, with a team that included Benjamin Silver, Frédéric Cotnoir and George Maziotis (corporate finance and securities) and Ylang Ha (tax).

Canaccord was represented by Alfred Buggé and Denis Boudreault of Blake, Cassels & Graydon.