Mr. Adam Sheparski reports

ACADIAN TIMBER CORP. ANNOUNCES TIMBERLAND ACQUISITION

Acadian Timber Corp. has closed on the acquisition of approximately 16,000 acres of commercial-quality timberlands in New Brunswick.

"This acquisition demonstrates our ongoing efforts to further build our asset base in a way that will deliver long-term value to our shareholders," commented Adam Sheparski, President and Chief Executive Officer. "The property is well stocked, benefiting from historical silviculture investments, and presents significant potential for revenue diversification through other land use opportunities."

On March 14, 2024, Acadian completed the acquisition of approximately 16,000 acres of timberland in New Brunswick at a price of $9.0 million, financed through its existing revolving credit facility. The timberlands are close in proximity to Acadian's existing operations and customer base. The acquisition will allow Acadian to expand its harvesting operations as well as other land use revenue opportunities.

Acadian Timber Corp. is one of the largest timberland owners in Eastern Canada and the Northeastern U.S. and has a total of approximately 2.4 million acres of land under management. Acadian owns and manages approximately 777,000 acres of freehold timberlands in New Brunswick, approximately 300,000 acres of freehold timberlands in Maine and provides timber services relating to approximately 1.3 million acres of Crown licensed timberlands in New Brunswick. Acadian's products include softwood and hardwood sawlogs, pulpwood and biomass by-products, sold to approximately 90 regional customers. Acadian also develops carbon credits for sale in voluntary carbon credit markets.

Acadian's business strategy is to maximize cash flows from its existing timberland assets through sustainable forest management and other land use activities while growing its business by acquiring assets and actively managing these assets to drive improved performance.

Acadian's shares are listed for trading on the Toronto Stock Exchange under the symbol ADN.

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