Canfor Announces Investment Agreement
August 04 2015 - 7:00PM
PR Newswire (Canada)
VANCOUVER,
Aug. 4, 2015 /CNW/ - Canfor
Corporation (TSX:CFP) announced today that it has completed an
investment agreement (the "Agreement") with Conifex Inc.
("Conifex"), a subsidiary of Conifex Timber Inc. (TSX-CFF) pursuant
to which Canfor loaned $30,000,000 to
Conifex. The loan is represented by a senior secured note
(the "Note") which has a term of 5 years and is secured by a first
lien on a forest licence with 200,000 cubic metres of annual cut
held by a subsidiary of Conifex. Canfor has the option,
exercisable after one year, to convert the loan into an ownership
interest in the forest licence.
Canfor is a leading integrated forest
products company based in Vancouver,
British Columbia ("BC") with interests in BC, Alberta, North and South Carolina, Alabama, Georgia and Mississippi. Canfor produces primarily
softwood lumber and specialized wood products. Canfor also
owns a 51.0% interest in Canfor Pulp Products Inc., which is one of
the largest producers of market northern bleached softwood kraft
pulp and a leading producer of high performance kraft paper and
also produces bleached chemi-thermo mechanical pulp. Canfor shares
are traded on the Toronto Stock Exchange under the symbol
CFP.
SOURCE Canfor Corporation
Copyright 2015 Canada NewsWire
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