Canfor Welcomes Approval of Forest Tenure Transfer to Interfor

Canfor Corporation welcomes today’s announcement by the Honourable Doug Donaldson, Minister of Forests, Lands, Natural Resource Operations and Rural Development that he has consented to the transfer of the Vavenby forest tenure to Interfor.

“We are pleased that Premier Horgan and Minister Donaldson have approved the transfer of forest tenure associated with the Vavenby mill to Interfor,” said Don Kayne, President and CEO, Canfor.

“With strong leadership from Premier Horgan, today’s decision demonstrates the BC government’s support of the Interior forest sector as it continues the difficult process of reducing production capacity toalign withthe available timber supply. Throughout this process we have appreciated the opportunity to work in partnership with the Simpcw First Nation, the local communitiesand the United Steelworkers.”

“We are working to sellthe Vavenby mill site, which will provide the best opportunity for future economic activities and employmentin the local communities,”added Kayne.

The agreement with Interfor is expected to close before the end of Q1 2020.On June 3, 2019 Canfor announced the agreement to sell the Vavenby tenure to Interfor.