Date Closed

June 19, 2018

Lead Office

Vancouver

Value

64.80 Million CAD

On June 19, 2018, Conifex Timber Inc. ("Conifex") completed an offering of subscription receipts, whereby Conifex issued 10,806,332 subscription receipts at a price of $6.00 per item for aggregate gross proceeds of approximately $64.8 million. The syndicate of underwriters was led by Raymond James Ltd., and included CIBC Capital Markets and RBC Capital Markets.

Each subscription receipt entitles the holder thereof to receive, without payment of additional consideration or further action, one common share of Conifex upon closing of the previously announced acquisition by Conifex, through its wholly owned subsidiary, of all of the outstanding membership interests of each of Caddo River Forest Products, LLC, Suwannee Lumber Holding Company, LLC and Suwannee Timber Management, LLC, which own and operate the Suwannee sawmill in Cross City, Florida and the Caddo River sawmill in Glenwood, Arkansas.

Conifex, based in British Columbia, is a  growth-oriented company focused on forestry, sawmilling, and power generation. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets.

McCarthy Tétrault LLP advised the syndicate of underwriters with a team led by Robin Mahood that included Bosa Kosoric, Glynnis Morgan (Business) and TJ Kang (Tax).