Canfor Corporation (TSX:CFP) announced today that it has completed an investment agreement (the “Agreement”) with Conifex Inc. (“Conifex”), a subsidiary of Conifex Timber Inc. (TSX-CFF) pursuant to which Canfor loaned $30,000,000 to Conifex. The loan is represented by a senior secured note (the “Note”) which has a term of 5 years and is secured by a first lien on a forest licence with 200,000 cubic metres of annual cut held by a subsidiary of Conifex. Canfor has the option, exercisable after one year, to convert the loan into an ownership interest in the forest licence.
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