Louisiana-Pacific closes US $22M acquisition of International Barrier Technology

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By Ted Liu

Louisiana-Pacific Corporation (NYSE: LPX), through Louisiana-Pacific Canada Ltd., has completed the acquisition of all of the issued and outstanding common shares of International Barrier Technology Inc. (TSX-V: IBH; OTCQB:IBTGF) for US $0.41 per common share, for a total purchase price of approximately US $22 million.

Morton Law LLP and Stikeman Elliott LLP acted as legal counsels to International Barrier Technology and Louisiana-Pacific respectively.

International Barrier Technology’s common shares will be delisted from the TSX Venture Exchange and cease to be quoted on the OTCQB in the coming days.

Watkins, Minnesota based International Barrier Technology, a British Columbia company, has also applied to the relevant securities regulatory authorities in Canada and the United States to cease to be a reporting issuer for the purposes of securities legislation.

photo credit: International Barrier Technology