GreenFirst Secures $30 Million Term Loan Under Federal Softwood Lumber Program

Executive Summary

• GreenFirst Forest Products Inc. secured a $30 million term loan under the Canadian Government’s Softwood Lumber Program, arranged with BMO.
• The financing is intended to bolster liquidity and support ongoing operations amid volatile North American lumber market conditions.
• Management highlighted that the loan strengthens the balance sheet and positions the company for long‑term stability and value creation.

Key Details

• Financing Amount: $30 million term loan.
• Program: Softwood Lumber Program administered by the Government of Canada to aid eligible softwood producers facing reduced demand and pricing pressure.
• Lender/Arranger: Bank of Montreal (BMO).
• Purpose of Funds: Enhance financial flexibility, provide additional runway, support liquidity, and fund ongoing operations during market volatility.
• Impact Statement: The loan improves GreenFirst’s balance sheet and offers critical liquidity during a challenging period for the lumber industry.

Notable Quotes

“This financing under the federal Softwood Lumber Program strengthens our balance sheet and provides important liquidity during a difficult period for the industry,” said Joël Fournier, CEO of GreenFirst.
“We appreciate the continued support of the Government of Canada and BMO as we work to position GreenFirst for long‑term stability and value creation.”