Cathay Forest Provides Further Update on Trading Suspension

At the request of the TSX Venture Exchange (the "Exchange") Cathay Forest
Products Corp. (TSX VENTURE:CFZ) ("Cathay Forest" or the "Company") provides a
further update with respect to the Exchange's review of the Company's
application to have trading in its common shares reinstated.


The Company did not provide notice nor seek Exchange approval with respect to
four non-arm's length investments in Eco-Energy China Group Inc., a private
corporation, and failed to disclose such non-arm's length transactions by way of
press in accordance with the policies of the Exchange. Such transactions took
place between July 2009 and February 2010. All requisite filings have now been
made and are being reviewed by the Exchange.


All such non-arm's length transactions were disclosed in the applicable
Management's Discussion and Analysis, Notes to the Financial Statements, Annual
Information Form and other relevant public disclosure documents issued by the
Company.


The Board of directors and the senior management of Cathay Forest are currently
reviewing the Company's internal disclosure procedures and corporate governance
practices to ensure that the contraventions of Exchange policies are not
repeated. The Company is to make a submission to the Exchange in this regard.


About Cathay Forest Products 

Cathay Forest is a forest products company that manages approximately 1,000,000
hectares of standing timber properties and fast-growth, high-yield poplar
plantations in China and Russia. Cathay Forest is building a world-class forest
products company through a customer base that includes the domestic Chinese pulp
and paper industry and other wood products customers in the Japanese market.


Forward-Looking Statements 

All statements, other than statements of historical fact, in this news release
are forward-looking statements that involve various risks and uncertainties,
including, without limitation, statements regarding the future plans and
objectives of Cathay Forest. Actual results and future events could differ
materially from those anticipated in such statements. Except as required under
applicable securities laws, Cathay Forest assumes no obligation to update
forward-looking statements should circumstances or management's estimates or
opinions change.

Cathay Forest Products Corp (TSXV:CFZ)
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から 5 2024 まで 6 2024