Conifex Announces Completion of Previously Announced Acquisition of Lumber Marketing and Distribution Business
2014年2月3日 - 11:00PM
Marketwired
Conifex Announces Completion of Previously Announced Acquisition of
Lumber Marketing and Distribution Business
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 3, 2014) -
Conifex Timber Inc. ("Conifex" or the "Company") (TSX-VENTURE:CFF)
today announced that it has completed its previously announced
acquisition of Lignum Forest Products LLP ("Lignum"), a private
partnership which operates a lumber marketing and distribution
business.
Lignum is an established and well respected name in the forestry
and lumber distribution business in British Columbia. Lignum serves
customers and distributes products that are complementary to those
of Conifex. Lignum provides extensive market reach in the North
American market through a network of established inventory
locations.
Ken Shields, Chief Executive Officer of Conifex, commented: "We
are pleased to have Lignum become part of Conifex, and are
committed to providing the support and resources the Lignum team
requires to continue to deliver timely and professional services to
its customer base."
Conifex will pay an aggregate purchase price of approximately
US$4 million for Lignum, subject to certain post-closing
adjustments, which it is funding from its existing available
cash.
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 the timing and completion of
the Transaction. 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 additional matters described in the Company's most
recent Annual Information Form, 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.
Yuri LewisChief Financial Officer(778) 331-8687
Conifex Timber (TSXV:CFF)
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