Quebec Cartier Mining Completes Reorganization

Quebec Cartier Mining Co. completed its corporate and debt reorganization on December 31, 2003. The reorganization involved, among other things, an equity contribution and a financial contribution of the government of Quebec, acting through Investissement Québec, for up to $196 million, together with an extension of the company's bank debt.

Quebec Cartier Mining was represented by in-house counsel Claude Lavoie; and by Robert Borduas and François Courteau of Ogilvy Renault. Investissement Québec was represented by in-house counsel Pierre Chartrand; and by Paul Paradis of Cain Lamarre Casgrain Wells.

Counsel to the Quebec Cartier Mining shareholders were Dofasco Inc., represented in-house by Joan Weppler, vice-president, corporate administration and general counsel, and by Wally Palmer, Louis Séguin, Hugo Patenaude, Koker and Christensen and Mark Paterson and Alain Ranger (tax) of Fasken Martineau DuMoulin LLP in Toronto and Montreal; and Caemi Mineracão e Metalurgia SA, represented by Philip Nolan and Pierre Caron of Lavery, de Billy.

TD Bank, agent for the lenders, was represented by François Renaud and Brigitte Gauthier of Desjardins Ducharme Stein Monast.