EXHIBIT 99.1
[CAPITAL LOGO]
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PRESS RELEASE
For Immediate Release
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CAPITAL ENVIRONMENTAL AMENDS SENIOR LENDING FACILITIES
BURLINGTON, ON (December 5, 2000) - Capital Environmental Resource Inc. (NASDAQ:
CERI) today announced that it had entered into an amending agreement with its
senior lending syndicate. The effect of the amendments is to cure certain
existing defaults and waive the non-compliance with certain financial covenants
under such debt arrangement. The amendment also modified certain financial
covenants and associated interest rates, modified permitted capital expenditure
limits, accelerated the amortization terms of certain portions of the debt and
obligated the Company to raise additional subordinated debt or equity over the
next several quarters.
Capital Environmental Resource Inc. is a regional integrated solid waste
services company that provides collection, transfer, disposal and recycling
services in markets in Canada and the northern United States. The Company's web
site is http://www.capitalenvironmental.com.
The matters discussed in this news release include certain forward-looking
statements that involve risks and uncertainties which could cause actual results
to differ materially from those forward-looking statements, including the risks
and uncertainties detailed in the Company's filings with the Securities and
Exchange Commission. The Company makes no commitment to disclose any revisions
to forward-looking statements, or any facts, events or circumstances after the
date of this release that may bear upon forward-looking statements.
Company contact:
David Langille, EVP and CFO
(905) 319-6047
