10:55:34 EDT Thu 22 Oct 2020
Enter Symbol
or Name
USA
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Conifex Timber Inc
Symbol CFF
Shares Issued 46,630,175
Close 2019-10-28 C$ 0.52
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Conifex receives B.C. OK to sell Fort St. James sawmill

2019-10-28 09:50 ET - News Release

Ms. Sandy Ferguson reports

CONIFEX AND HAMPTON ANNOUNCE BC GOVERNMENT APPROVAL OF FORT ST. JAMES SAWMILL SALE

Doug Donaldson, minister of forests, lands, natural resource operations and rural development, has approved the sale of Conifex Timber Inc.'s Fort St. James sawmill and associated forest licence to Hampton Lumber.

Ken Shields, Conifex's chair and chief executive officer, stated: "We would like to thank the minister and the Province of British Columbia for recognizing the positive benefits that the sale and planned rebuild by Hampton Lumber will provide to employees, the community and local first nations who are dependent on a sustainable lumber manufacturing operation at the site."

Hampton Lumber CEO, Steve Zika, commented: "We're excited about the tenure transfer approval and will work diligently with Conifex to complete the acquisition process. After the sale becomes final, we'll have further information to share with the community regarding our short-term plans for managing the timber licence and the mill site. We continue to work with first nations and the community on long-term plans to develop a community-based sawmill operation that we can all be proud of."

Closing is expected to be completed soon, subject to completion of remaining customary closing conditions.

About Conifex Timber Inc.

Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber finishing and distribution. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets. Conifex has expanded its operations to include bioenergy production following the commencement of commercial operations of its power generation facility at Mackenzie, B.C.

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