Mr. Ali Mahdavi reports

CANWEL BUILDING MATERIALS GROUP RENEWS AND EXTENDS SENIOR REVOLVING BANKING FACILITY

CanWel Building Materials Group Ltd. has early renewed its senior revolving credit facility with its lender and agent, Wells Fargo Capital Finance Corp. (Canada) and Canadian Imperial Bank of Commerce, Royal Bank of Canada and Toronto-Dominion Bank as syndicate lenders. CanWel has renewed and increased its senior revolving banking facility to $360-million, for an additional five-year term to Dec. 6, 2024. Simultaneously, CanWel is pleased to advise that it has also renewed and extended its existing senior term loan facility with CIBC, which now matures on the same date as the senior revolving loan facility. Both facilities were renewed on terms and conditions more favourable to CanWel.

"I would like to thank Wells Fargo Capital Finance Canada, CIBC and the revolver syndicate members for their in-depth understanding of our business, our borrowing requirements for our continued growth and the needs of our ongoing operations," noted Amar Doman, chairman and chief executive officer of CanWel. "Wells Fargo Capital Finance Canada has been our principal banking partner for over 20 years and we thank them for their continued support."

About CanWel Building Materials Group Ltd.

Founded in 1989, CanWel is headquartered in Vancouver, B.C., and trades on the Toronto Stock Exchange under the symbol CWX and is Canada's only fully integrated national distributor in the building materials and related products sector.

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