Canfor Corporation (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 6,767,993 Common Shares or approximately 5% of the 135,359,863 Shares outstanding as of February 28, 2015, at prevailing market prices, in accordance with the rules of The Toronto Stock Exchange. The Company repurchased a total of 4,544,700 Shares for cancellation between March 5, 2013 and March 4, 2015 under its prior bid, at a volume weighted average price of $24.0563 per Share. The renewed normal course issuer bid will commence on March 5, 2015 and continue until March 4, 2016, 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 Common Shares made under the bid will be effected through the facilities of the TSX and through one or more Canadian alternative trading systems.
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