Conifex receives conditional approval from Toronto Stock Exchange for listing of its common shares; CEO says graduation to TSX reflects British Columbia lumber producer's progress since purchasing idled sawmills in 2008, 2010 to producing 500 mmbf/year
VANCOUVER, British Columbia
May 5, 2014
– Conifex Timber Inc. ("Conifex" or the "Company") (TSX-V: CFF) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange ("TSX") for the listing of its common shares on the TSX, subject to the completion of customary requirements of the TSX, including receipt of all required documentation. Once final approval is received, the common shares of Conifex will commence trading on the TSX and be delisted from the TSX Venture Exchange. Upon listing on the TSX, it is expected that Conifex's common shares will continue to trade under the symbol "CFF".
Ken Shields, Chief Executive Officer of Conifex commented: "Conifex’s graduation to the TSX reflects the progress we have made transitioning from purchasing idled sawmills in 2008 and 2010 to producing 500 million board feet of lumber on an annual basis. In 2013, our Company generated over $250 million in revenues and $9 million in net income after tax. Later this year, we plan to complete construction and commence operation of a power generation facility selling renewable 'green' electricity to over 20,000 British Columbia residences."
For further information, please contact Yuri Lewis, Chief Financial Officer at (778) 331-8687.
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 power generation facility at Mackenzie, British Columbia, Conifex's business sectors will be expanded to include bioenergy.