Canfor Announces Renewal of Normal Course Issuer Bid

Mar 17, 2022

Canfor Corporation (“Canfor” or the “Company”) (TSX:CFP) announced today that it has received regulatory approval to effect an early renewal of a normal course issuer bid that will expire in June, 2022. Under the new bid, the Company may purchase for cancellation up to 6,224,680 common shares of the Company (the “Shares”) or approximately 5% of the 124,493,600 Shares outstanding as of March 15, 2022, at prevailing market prices, in accordance with the rules of The Toronto Stock Exchange (the “TSX”). The Company repurchased a total of 725,800 Shares for cancellation from June 16, 2021 to and including March 15, 2022 under its prior bid (the “2021 NCIB”), at a volume weighted average price of $26.4482 per Share, through the facilities of the TSX and/or Canadian alternative trading systems. Under the 2021 NCIB, the Company sought and was approved to purchase 6,260,970 Shares.

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