Canfor Corporation (“Canfor” or the “Company”) (TSX:CFP) announced today that it has received regulatory approval to re-institute a normal course issuer bid that expired in March, 2020. Under the new bid, the Company may purchase for cancellation up to 6,260,970 common shares of the Company (the “Shares”) or approximately 5% of the 125,219,400 Shares outstanding as of June 10, 2021, at prevailing market prices, in accordance with the rules of The Toronto Stock Exchange (the “TSX”).
The re-instituted normal course issuer bid will commence on June 16, 2021, and continue until June 15, 2022, unless completed or terminated earlier. Canfor believes the normal course issuer bid is in the best interests of the Company and its shareholders. Purchases of Shares made under the bid will be effected through the facilities of the TSX and/or through one or more Canadian alternative trading systems.
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