Canfor Announces Renewal of Normal Course Issuer Bid

Mar 17, 2023

Canfor Corporation (“Canfor” or the “Company”) (CFP) announced today that it has received regulatory approval to renew a normal course issuer bid that will expire in March, 2023. Under the new bid, the Company may purchase for cancellation up to 6,052,978 common shares of the Company (the “Shares”) or approximately 5% of the 121,059,579 Shares outstanding as of March ‎14‎, 2023, at prevailing market prices, in accordance with the rules of The Toronto Stock Exchange (the “TSX”). The Company repurchased a total of ‎3,582,321 Shares for cancellation from March 21, 2022 to and ‎including March ‎14, 2023 under its prior bid, at a volume weighted average price of $‎23.6874 per ‎Share, through the facilities of the TSX and/or Canadian alternative trading systems. Under its prior ‎bid, the Company sought and was approved to purchase 6,224,680 Shares‎.

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