Conifex Timber Inc.
TSX VENTURE : CFF

Conifex Timber Inc.

June 21, 2010 19:31 ET

Conifex Timber Inc. Appoints New Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2010) - Conifex Timber Inc. ("Conifex") (TSX VENTURE:CFF) announced today the appointment of John Edward Bae as a director to Conifex's board of directors. With the addition of Mr. Bae to the board, Conifex now has 7 directors.

Mr. Bae has over fifteen years of experience in global softwood lumber marketing. Mr. Bae is presently corporate development manager of a British Columbia private company engaged in large scale timber and lumber distribution projects in China. Previously, Mr. Bae had been responsible for global softwood lumber marketing for Canfor Corporation (TSX – CFP) and for Trans Pacific Trading Ltd., and had been engaged in sawmill and marketing development for Rusfor International Ltd. Mr. Bae holds a B.Sc. in Forestry from the University of British Columbia.

Conifex chief executive officer Ken Shields stated: "Now that China represents approximately 16% of total BC lumber shipments, up from virtually zero in 2005, we are pleased to have John Bae serve as a director and help Conifex develop strategies to optimize its potential in this rapidly growing market."

Conifex Timber Inc.

Conifex is an independent British Columbia company formed for the purpose of investing in the forest industry in the interior region of British Columbia and elsewhere in Canada. Conifex and its affiliates' primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets.

Conifex's sawmill situated in Fort St. James, British Columbia was purchased in August 2008 and commenced operations on a one-shift basis in March 2009. At this mill, Conifex intends to move to a two-shift operation in the second half of 2010 upon the completion of a capital expenditure program. Conifex's sawmill situated in Mackenzie, British Columbia was purchased in June 2010. On a combined basis, Conifex now owns sawmills having an annual lumber production capacity in excess of 600 million board feet on a two-shift basis, all supported by renewable forestry licences with an allowable annual cut of approximately 1.6 million cubic metres. 

CONIFEX TIMBER INC.

Kenneth A. Shields, Chief Executive Officer

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact included herein, including, without limitation, statements about Conifex business, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks; fluctuations in commodity prices; environmental liability claims and insurance; competition; dilution; and the volatility of our common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Conifex undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Conifex Timber Inc.
    Yuri Lewis
    Chief Financial Officer
    (778) 331.8687
    (778) 331.8944 (FAX)