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Interfor Announces Successful Issuer Auction Worth $100 Million, Canadian Business Journal

BURNABY, British Columbia, September 12, 2022 (GLOBE NEWSWIRE) — Interfor Co., Ltd. (“Interfor” or the “Company”) (TSX: IFP) today subscribed for 3,355,704 shares of common stock (the “Shares”) at a price of $29.80 per share (the “Purchase Price”) and paid for their retirement announced. previously announced substantive issuer bids (“offers”);

The shares purchased represent a total purchase of $100 million and represent 6.1% of Interfor’s total outstanding and outstanding shares as of July 25, 2022.

A total of 6,749,706 shares were validly tendered into the offer and not withdrawn. Shareholders who placed auction bids at or below the purchase price, and those who placed or were deemed to have placed purchase price bids, as the offer was oversubscribed, Interfor acquired approximately 98.8% of the shares tendered (Except for “odd lots”). Bids not subject to proration).

Interfor paid for the shares by accepting the shares tendered into the offer and paying the aggregate purchase price to Computershare Investor Services Inc. (the “Depositary”), the depository for the offer. Payments and settlements with shareholders will be made by the depository on or around September 15, 2022. All this is subject to the offer and applicable law. Shares not purchased, including shares not purchased as a result of pro rata distribution, or which were bid at auction at a price higher than the purchase price, or which were invalidly bid, shall be returned to shareholders as soon as practicable. will be returned.

In order to assist shareholders in determining the tax effects of the Tender Offer, Interfor makes estimates to: Income Tax Act (Canada) (“Tax Act”), with paid-up capital of $7.85 per share on September 8, 2022; Dividends deemed paid by Interfor to residents of Canada are designated as “Qualified Dividends”. tax law and corresponding state and territory tax laws.

For the purposes of section 191(4): tax lawthe “designated amount” for each stock is $30.60.

Full details of the Offer are set out in the Offer to Purchase and Issuer’s Tender Circular dated 2 August 2022, as well as in the related Transmittal Letter and Delivery Guarantee Notice, a copy of which can be found at www. Available on SEDAR at sedar.com.

This news release is for informational purposes only and does not constitute an offer to buy or a solicitation of an offer to sell any securities.

Forward-Looking Statements

This news release contains forward-looking information, including information regarding the completion of a large issuer tender by the Company and the timing of payments for shares purchased under the offer. Such forward-looking information is based on information currently available to Interfor and is based on assumptions and analyzes made in light of his experience and perceptions of Interfor’s past trends and current circumstances. Readers are cautioned that actual results may differ from the forward-looking information. Also, you should not place undue reliance on such forward-looking information. Risk factors that could cause actual results to differ materially from the forward-looking information in this release are identified in Interfor’s current first quarter and annual Management’s Discussion and Analysis under the heading “Risks and Uncertainties.” Described below and available at www.interfor. com and under his Interfor profile on www.sedar.com. Unless otherwise stated, forward-looking statements in this release are based on our expectations as of the date of this release. Interfor does not undertake any obligation to update such forward-looking information or statements, except as required by law.

About Intel Four

Interfor is a growth-oriented forest products company with operations in Canada and the United States. With a timber production capacity of approximately 4.7 billion board feet per year, the company offers a wide variety of timber products to customers around the world. For more information on Interfor, please visit our website at www.interfor.com.

Investor Contact:

Rick Pozzebon, Senior Vice President and Chief Financial Officer
(604) 689-6804

Mike McKay, Vice President of Corporate Development and Strategy
(604) 689-6846

Media contact:

Svetlana Kayumova, Corporate Affairs Manager
(604) 422-7329
[email protected]

CBJ Newsmaker

Interfor Announces Successful Issuer Auction Worth $100 Million, Canadian Business Journal

Source link Interfor Announces Successful Issuer Auction Worth $100 Million, Canadian Business Journal

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