Canfor renewal of normal course issuer bid

VANCOUVER — Canfor Corporation received regulatory approval to renew a normal course issuer bid that will expire in March. Under the new bid, the company may purchase for cancellation up to 6,052,978 common shares of the company or approximately 5 per cent of the 121,059,579 shares outstanding as of March ‎14‎ at prevailing market prices, in accordance with the rules of The Toronto Stock Exchange.

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.

The renewed normal course issuer bid will commence on March ‎21 and continue until March ‎20, 2024, unless completed or terminated earlier. Canfor believes that the purchase of shares under the normal course issuer bid represents an ‎effective use of the company’s financial resources and is in the best interests of the ‎company‎.