- Conifex (CFF) will offer to purchase up to 4 million outstanding common shares for cancellation at a price of $2.25 for a total of $9 million
- The offer is expected to commence on November 12, 2021 and expire on December 20, 2021
- Shareholders are free to choose whether to participate and how many shares to tender
- Conifex Timber Inc is a Canada based forestry company
- Conifex Timber Inc. (CFF) opened trading at C$1.76 per share
Conifex (CFF) will offer to purchase up to 4 million outstanding common shares for cancellation for a total of $9 million.
The purchase price of $2.25 per share represents a 28 per cent premium over the closing price on November 8, 2021.
The offer is expected to commence on November 12, 2021, and expire on December 20, 2021, unless extended or withdrawn. Conifex plans to fund repurchases of shares through available cash on hand. Shareholders will have the option to elect to receive payment in either Canadian or US dollars.
The offer is for up to approximately 9 per cent of the total number of issued and outstanding shares on a non-diluted basis. Shareholders are free to choose whether to participate and how many shares to tender.
The offer is not conditional upon any minimum number of shares being tendered. The offer is expected to remain open until 5:00 p.m. ET on December 20, 2021, unless extended or withdrawn.
Conifex’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber finishing and distribution. Conifex’s lumber products are sold in the US, Canadian and Japanese markets.
Conifex Timber Inc. (CFF) opened trading at C$1.76 per share.