Canfor Corporation

Canfor Corporation

November 14, 2005 17:02 ET

Canfor Confirms Normal Course Issuer Bid

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2005) - Canfor Corporation (TSX:CFP) announced today that further to its news release of October 28, 2005 it has received regulatory approval for a normal course issuer bid to purchase for cancellation up to 7,125,519 Common Shares or approximately 5% of the 142,510,396 Common Shares outstanding on October 28, 2005, at prevailing market prices in accordance with the rules of The Toronto Stock Exchange. The normal course issuer bid will commence on November 15, 2005 and continue until November 14, 2006, unless completed or terminated earlier. Canfor believes the normal course issuer bid is in the best interests of the company. Purchases of Common Shares made under the bid will be effected through the facilities of The Toronto Stock Exchange.

Canfor previously purchased a total of 1,104,800 Common Shares (at an average price of $ 13.91) during a prior normal course issuer bid which commenced October 15, 2004 and terminated October 14, 2005.

Canfor is a leading integrated forest products company based in Vancouver, British Columbia. The company is the largest producer of softwood lumber and one of the largest producers of northern softwood kraft pulp in Canada. Canfor also produces kraft paper, plywood, remanufactured lumber products, oriented strand board (OSB), hardboard paneling and a range of specialized wood products, including baled fibre and fibre mat at 30 facilities located in BC, Alberta and Quebec.

Contact Information

  • Canfor Corporation
    David Jan
    Manager, Investor Relations
    (604) 661-5424
    Canfor Corporation - Media Contact
    R. Lee Coonfer
    Manager, Public Affairs & Corporate Communication
    (604) 661-5225