The TSX Venture Exchange has accepted for filing a share purchase agreement dated Aug. 23, 2023, between the company, an arm's-length party (the vendor) and the shareholders of the vendor to acquire all of the issued and outstanding shares of the vendor. The vendor is a manufacturer of roof trusses, floor systems and wall panels, and a supplier of engineered wood products.

Under the terms of the agreement, the company will issue 1,739,129 shares at a deemed price of $1.14 per share to some of the shareholders and pay $26,884,737 in cash to the shareholders. Of the cash consideration, $2,688,474 will be paid into escrow. The cash consideration is subject to additional postclosing adjustments based on the vendor's working capital, inventory, cash and income taxes payable/receivable at closing.

For further details, please refer to the company's news release dated Aug. 23, 2023.