VANCOUVER, BC, Sept. 9,
2024 /CNW/ - Canfor Corporation (TSX: CFP) announced
today the completion of the subdivision and sale of its Forest
License in the Mackenzie Timber Supply Area (TSA) equally to the
McLeod Lake Indian Band and the Tsay Keh Dene Nation.
"Building on our long-standing relationships, Canfor is pleased
to have reached this arrangement that will expand the Nations'
participation in the forest economy and stewardship of forest
resources in the region," said Stephen
Mackie, Executive Vice President North American Operations.
"We believe this agreement will support improved fibre access in
the TSA and generate significant economic benefits for local and
regional communities."
Total proceeds from this tenure sale and the previously
announced disposition of associated Mackenzie sawmill assets are
$69 million.
Forward-looking statements.
Certain statements in this press release constitute
"forward-looking statements" which involve known and unknown risks,
uncertainties and other factors that may cause actual results to be
materially different from any future results, performance or
achievements expressed or implied by such statements. Words such as
"expects", "anticipates", "projects", "intends", "plans", "will",
"believes", "seeks", "estimates", "should", "may", "could", and
variations of such words and similar expressions are intended to
identify such forward-looking statements. These statements are
based on management's current expectations and beliefs and actual
events or results may differ materially. There are many factors
that could cause such actual events or results expressed or implied
by such forward-looking statements to differ materially from any
future results expressed or implied by such statements.
Forward-looking statements are based on current expectations and
Canfor assumes no obligation to update such information to reflect
later events or developments, except as required by law.
About Canfor Corporation.
Canfor is a global leader in the manufacturing of high-value
low-carbon forest products including dimension and specialty
lumber, engineered wood products, pulp and paper, wood pellets and
green energy. Proudly headquartered in Vancouver, British Columbia, Canfor produces
renewable products from sustainably managed forests, at more than
50 facilities across its diversified operating platform in
Canada, the United States and Europe. The Company has a 70% stake in Vida
AB, Sweden's largest privately
owned sawmill company and also owns a 54.8% interest in Canfor Pulp
Products Inc. Canfor shares are traded on The Toronto Stock
Exchange under the symbol CFP. For more information visit
canfor.com.
SOURCE Canfor Corporation