Canfor Announces Renewal of Normal Course Issuer Bid

Mar 05, 2018

Canfor Corporation ("Canfor" or the "Company") (CFP) announced today that it has received regulatory approval to renew a normal course issuer bid first launched in March, 2013. Under the new bid, the Company may purchase for cancellation up to 6,439,764 common shares of the Company (the "Shares") or approximately 5% of the 128,795,280 Shares outstanding as of March 1, 2018, at prevailing market prices, in accordance with the rules of The Toronto Stock Exchange (the "TSX").  The Company repurchased a total of 4,179,063 Shares for cancellation from March 7, 2017 to and including March 1, 2018 under its prior bid, at a volume weighted average price of $21.8119 per Share. The renewed normal course issuer bid will commence on March 7, 2018 and continue until March 6, 2019, unless completed or terminated earlier. Canfor believes the normal course issuer bid is in the best interests of the Company and its shareholders. Purchases of Shares made under the bid will be effected through the facilities of the TSX and through one or more Canadian alternative trading systems.

Click to download the full release »

get blog updates

Subscribe via rss

get timely news alerts

Subscribe via email or rss