VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2013) - Conifex Timber Inc. ("Conifex" or the "Company") (TSX VENTURE:CFF) announced today that its wholly-owned subsidiary Conifex Power Limited Partnership ("Conifex Power") has received oral confirmation that it shall receive a commitment for secured project financing (the "Project Financing") for its planned 36MW bioenergy power project in Mackenzie, British Columbia (the "Power Project") in the aggregate amount of approximately $100 million from a syndicate of lenders. As a result, Conifex Power has recommenced construction of the Power Project. Conifex expects to receive formal commitment for the Project Financing shortly.
The Project Financing will be subject to customary closing conditions, including completion of definitive documentation, which shall contain customary representations, warranties and covenants for a project financing of the type contemplated.
About Conifex Timber Inc.
Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, and the manufacture, sale and distribution of dimension lumber. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets. Upon completion of its bioenergy facility at Mackenzie, British Columbia, Conifex's business sectors will be expanded to include bioenergy.
Forward-Looking Statements
Certain statements in this news release may constitute "forward-looking statements", including statements with respect to the Financing described herein and project financing for the bioenergy facility. Forward-looking statements are statements that address or discuss activities, events or developments that the Company expects or anticipates may occur in the future. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of the Company's management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of the Company or industry may be materially different from those implied by such forward-looking statements. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including the ability to obtain all necessary regulatory approvals, satisfactory completion of due diligence by the Lenders for the Project Financing, the ability to negotiate definitive documentation with respect to the Project Financing, the cost of the Bioenergy Facility, timing of completion, if at all, of the Bioenergy Facility and the expected benefits and results of operations of the Bioenergy Facility, as well as those matters described in the Company's 2012 annual information form for the fiscal year ended December 31, 2012, available on SEDAR at www.sedar.com. Accordingly, readers should exercise caution in relying upon forward-looking statements and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Yuri Lewis
Chief Financial Officer
(778) 331-8687