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BRIEF-Clearwater urges Canexus board to engage in negotiations with Chemtrade

Sept 15 Clearwater Capital Management Inc :

* "urged formation of a special committee of Canexus board to fully and fairly consider value-maximizing alternatives"

* Has demanded that Canexus establish a special committee with non-conflicted advisors to oversee process

* Clearwater Capital urges canexus board to engage in negotiations with chemtrade and suspend proposed note offering Source text for Eikon: Further company coverage:

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