Conifex Announces Closing of Funding for Mackenzie Power Project
2013年11月30日 - 1:19AM
Marketwired
Conifex Announces Closing of Funding for Mackenzie Power Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 29, 2013) -
Conifex Timber Inc. ("Conifex" or the "Company") (TSX-VENTURE:CFF)
announced today that its wholly-owned subsidiary, Conifex Power
Limited Partnership ("Conifex Power"), has closed its previously
announced secured project financing (the "Project Financing") for
its planned 36MW bioenergy power project in Mackenzie, British
Columbia (the "Power Project") with a syndicate of four
institutional lenders led by a Canadian chartered bank.
The Project Financing is for an aggregate of up to $102.7
million and includes a development and construction loan for the
Power Project of up to $82 million (the "Loan Facility"). The Loan
Facility consists of a construction loan which will mature
approximately 12 months from the closing date and convert into an
amortized term loan having a term of 5 years once the conditions to
conversion are satisfied, including substantial completion of
construction of the Power Project. The balance of the Project
Financing is in the form of a letter of credit facility primarily
to secure certain obligations of Conifex Power under its existing
load displacement agreement and a $1.75 million revolving operating
facility.
About Conifex Timber Inc.
Conifex and its subsidiaries' primary business currently
includes timber harvesting, reforestation, forest management, and
the manufacture, sale and distribution of dimension lumber.
Conifex's lumber products are sold in the United States, Chinese,
Canadian and Japanese markets. Upon completion of its bioenergy
facility at Mackenzie, British Columbia, Conifex's business sectors
will be expanded to include bioenergy.
Forward-Looking Statements
Certain statements in this news release may constitute
"forward-looking statements", including statements with respect to
the Project Financing described herein for the Power Project and
the timing of completion of construction of the Power Project.
Forward-looking statements are statements that address or discuss
activities, events or developments that the Company expects or
anticipates may occur in the future. When used in this news
release, words such as "estimates", "expects", "plans",
"anticipates", "projects", "will", "believes", "intends" "should",
"could", "may" and other similar terminology are intended to
identify such forward-looking statements. Forward-looking
statements reflect the current expectations and beliefs of the
Company's management. Because forward-looking statements involve
known and unknown risks, uncertainties and other factors, actual
results, performance or achievements of the Company or industry may
be materially different from those implied by such forward-looking
statements. Forward-looking statements involve significant
uncertainties, should not be read as a guarantee of future
performance or results, and will not necessarily be an accurate
indication of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including the ability to obtain all necessary regulatory approvals,
the cost of the Power Project, timing of completion, if at all, of
the Power Project and the expected benefits and results of
operations of the Power Project, as well as those matters described
in the Company's 2012 annual information form for the fiscal year
ended December 31, 2012, available on SEDAR at www.sedar.com.
Accordingly, readers should exercise caution in relying upon
forward-looking statements and the Company undertakes no obligation
to publicly revise them to reflect subsequent events or
circumstances, except as required by law.
Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Conifex Timber Inc.Yuri LewisChief Financial Officer(778)
331-8687
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