Brief: Conifex And Hampton Lumber Announce Agreement For Sale Of Fort St. James Sawmill

Conifex Timber

25/06/2019 02:32

June 24 (Reuters) - Conifex Timber Inc  CFF.TO :
    * CONIFEX AND HAMPTON LUMBER ANNOUNCE AGREEMENT FOR SALE OF
FORT
ST. JAMES SAWMILL
    * PURCHASE PRICE IS APPROXIMATELY $39 MILLION PLUS MARKET
VALUE OF
FINISHED LUMBER AND LOG INVENTORY AT CLOSING
    * CONIFEX TIMBER - CO DOES NOT EXPECT TO RESUME NORMAL
OPERATIONS
AT FORT ST JAMES SITE PRIOR TO CLOSING OF TRANSACTION
    * ENTERED INTO PURCHASE AGREEMENT WITH HAMPTON LUMBER FOR
SALE OF
ITS FORT ST. JAMES SAWMILL AND ASSOCIATED FOREST LICENSE
    * CONIFEX TIMBER - PROCEEDS WILL BE PRIMARILY USED TO RETIRE
DEBT
& TO PROVIDE ADDITIONAL LIQUIDITY

Source text for Eikon:  ID:nGNX4nM43C 
Further company coverage:  CFF.TO 

 ((Reuters.Briefs@thomsonreuters.com;))