International Forest Products Limited
TSX : IFP.A

International Forest Products Limited

April 08, 2011 09:04 ET

Interfor Closes $57.6 Million Bought Deal Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 8, 2011) -INTERNATIONAL FOREST PRODUCTS LIMITED(TSX:IFP.A) ("Interfor" or the "Company") has closed the previously announced public offering of 8,222,500 Class A Subordinate Voting shares (the "Shares") at a price of $7.00 per Share for gross proceeds to Interfor of $57,557,500 (the "Offering"). The Company filed a final short form prospectus in each of the Provinces of Canada on March 31, 2011 in connection with the Offering. Scotia Capital Inc. and RBC Capital Markets acted as joint-bookrunners for a syndicate of underwriters that included BMO Capital Markets, Raymond James Ltd., TD Securities Inc. and Dundee Securities Ltd. (the "Underwriters"). The closing of the Offering today included the exercise in full of the over-allotment option of 1,072,500 Shares by the Underwriters.

ABOUT INTERFOR

Interfor is one of the Pacific Northwest's largest producers of quality wood products. The Company has operations in British Columbia, Washington and Oregon, including two sawmills in the Coastal region of British Columbia, three in the B.C. Interior, two in Washington and two in Oregon. For more information about Interfor, visit our website at www.interfor.com.

FORWARD-LOOKING STATEMENTS

This release contains information and statements that are forward-looking in nature, including, but not limited to, statements containing the words "will", "believes" and "is expected" and similar expressions. Such statements involve known and unknown risks and uncertainties that may cause Interfor's actual results to be materially different from those expressed or implied by those forward-looking statements. Such risks and uncertainties include, among others: general economic and business conditions, product selling prices, raw material and operating costs, changes in foreign-currency exchange rates and other factors referenced herein and in Interfor's current annual report and management information circular available on www.sedar.com. The forward looking information and statements contained in this release are based on Interfor's current expectations and beliefs. Readers are cautioned not to place undue reliance on forward-looking information or statements. Interfor undertakes no obligation to update such forward-looking information or statements, except where required by law.

Contact Information

  • International Forest Products Limited
    John A. Horning
    Senior Vice President,
    Chief Financial Officer and Corporate Secretary
    (604) 689-6829
    www.interfor.com