The renewed normal course issuer bid will commence on March 21, 2024 and continue until March 20, 2025, 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.
The Company has entered into an automatic share purchase plan with a broker providing for the repurchase of Shares under the renewed normal course issuer bid.
Purchases of Shares made under the bid will be made at the discretion of the Company at prevailing market prices, and will be effected through the facilities of the TSX and/or through one or more Canadian alternative trading systems, in compliance with regulatory requirements. Daily purchases will be restricted to not more than 51,474 Shares, representing 25% of the 205,899 average daily trading volume of the Shares on the TSX for the six-month period ended
Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law.
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
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