Dec 18 (Reuters) - Algoma Central Corp ALC.TO :
* ALGOMA CENTRAL CORPORATION ANNOUNCES PRELIMINARY RESULTS OF SUBSTANTIAL ISSUER BID
* ALGOMA CENTRAL - UNDER SIB, ALGOMA OFFERED TO PURCHASE FOR CANCELLATION UP TO $20 MILLION OF ITS COMMON SHARES FROM SHAREHOLDERS FOR CASH
* ALGOMA CENTRAL CORP - EXPECTS TO TAKE UP AND PAY FOR APPROXIMATELY 361,418 SHARES AT A PRICE OF $14.75 PER SHARE UNDER SIB