Canfor Corporation
TSX : CFP

Canfor Corporation

August 09, 2013 17:01 ET

Canfor Completes Phased Purchase Agreement of Scotch Gulf Lumber

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 9, 2013) - Canfor Corporation (TSX:CFP) announced today that further to it's news release of May 31, 2013, Canfor has completed the purchase agreement with Scotch & Gulf Lumber, LLC. The purchase agreement reflects the acquisition of Scotch Gulf Lumber over a three year period with the first phase representing a 25% interest.

Don Kayne, Canfor's President and CEO said, "Scotch Gulf Lumber is a strong high performing organization and will contribute to the overall strength of our Company. We look forward to working with the Scotch Gulf management team."

Forward Looking Statements

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 and the Purchaser assume no obligation to update such information to reflect later events or developments, except as required by law.

Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with operations in BC, Alberta, Quebec and North and South Carolina. Canfor produces primarily softwood lumber, and also produces bleached chemi-thermo-mechanical pulp and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Products Inc., which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP.

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