General Donlee Canada Inc. Announces Completion of Partial Redemption of 7% Convertible Debentures due June 30, 2014

TORONTO, June 13, 2012 /CNW/ - General Donlee Canada Inc. ("General Donlee" or the "Company") (TSX: GDI) today announced that it has completed the previously announced partial redemption of its 7% convertible unsecured subordinated debentures maturing June 30, 2014 (the "Debentures") for an aggregate principal amount of $20,000,000. The Company paid to the holders of redeemed Debentures a redemption price (the "Redemption Price") equal to the principal amount of redeemed Debentures, plus accrued and unpaid interest up to but excluding the redemption date, for a total of $1,031.45 per $1,000 principal amount of Debentures. Debentures in an aggregate principal amount of $24,994,000 remain outstanding following the redemption. The Company used its new term credit facility to pay the Redemption Price of the redeemed Debentures.

About General Donlee Canada Inc.

General Donlee Canada Inc. is a leading diversified manufacturer of precision-machined products for the military, commercial and general aerospace industries, and a specialist in the manufacture of precision-machined products for the industrial products and power generation industries. General Donlee's operating strategy focuses on targeting niche markets for products that are aligned with its sophisticated manufacturing capabilities and skilled workforce.

Garen Mikirditsian
President & Chief Executive Officer
Interim Chief Financial Officer
Telephone: [phone]
E-mail:  [email protected]
Web site: www.generaldonlee.com