A Canadian Press report issued on June 25th stated that:

“Cordero …. received yet another sweetened takeover offer from Ember Resources Inc. yesterday, moments after it said its board would endorse ENMAX Corp.'s friendly bid. “

This is wrong. 

Ember’s June 25th news release contained nothing “sweetened”.  It appears to be simply a binding confirmation of a proposal that it had made in a news release back on June 19th.  The only change was the shortening of their deadline by one day.

Cordero’s board gave very full and careful consideration of Ember’s June 19th proposal before issuing their own June 25th news release, re-stating their recommendation that:

“the ENMAX offer is in the best interests of shareholders of Cordero and that shareholders of Cordero should accept the ENMAX offer and tender their shares thereto”

There is nothing “sweetened” from Ember and the Cordero board recommendation was based on Ember’s most recent offer.

About ENMAX
ENMAX Corporation, through subsidiaries and predecessors, has provided Albertans with safe and reliable electricity for more than 100 years. ENMAX provides electricity, natural gas and value-added services to more than half a million residential, commercial and industrial customer accounts in Alberta. Through a subsidiary, ENMAX Energy is one of Alberta’s largest investors in renewable energy with partial ownership of the McBride Lake Wind Farm and complete ownership of the Taber Wind Farm. ENMAX Energy’s Greenmax was one of the first green power marketing programs in Canada, and celebrates its 10th anniversary in 2008. Visit our website at enmax.com.

You can choose any retailer listed at www.ucahelps.gov.ab.ca or at 310-4822. Electricity delivery to your home or business isn't affected by your choice of retailer.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.