VIDA to Acquire Sawmill in Ingarp, Sweden

VIDA AB, owned 70% by Canfor Corporation (TSX:CFP), announces it will acquire a 50 million board foot sawmill from Ingarp Träskydd for 50 million SEK (CAD$6.0 million). The sawmill has the potential for expansion to 100 million board feet and the transaction is expected to close on October 3, 2023. The strategic acquisition marks a continued investment in the area around Vida’s sawmills in Hjältevad and Vimmerby.

About Canfor Corporation

Canfor is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor produces renewable products from sustainably managed forests, at more than 55 facilities across its diversified operating platform in Canada, the United States and Europe. The Company has a 70% stake in Vida AB, Sweden’s largest privately owned sawmill company and also owns a 54.8% interest in Canfor Pulp Products Inc. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP. For more information visit canfor.com.

Contact:

Michell Ward – Vice President, Corporate Communications – communicaitons@canfor.com – (604) 661-5225

Source: Canfor Corporation