Conifex receives $19M loan from BDC, restarts mill

Executive Summary

• Conifex Timber Inc. completed a $19 million secured term loan with the Business Development Bank of Canada (BDC) under the softwood lumber guarantee program, with proceeds used to repay a bridge advance and for working capital.
• The company successfully restarted its sawmill in February and anticipates sustaining two-shift operations in the second half of 2026, subject to fibre supply conditions.
• Conifex announced it will release its fourth quarter 2025 financial results before the market open on March 13, 2026, accompanied by a conference call.

Key Details

• Financing Structure:
  • Lender: Business Development Bank of Canada (BDC).
  • Amount: $19 million secured term loan.
  • Program: Softwood lumber guarantee program.
  • Maturity Date: July 15, 2033.
  • Interest Rate: BDC's floating base rate minus 0.60% per year.
  • Security: Secured by Conifex's lumber business assets.
  • Payment Terms: Interest-only payments allowed until August 2028.
  • Use of Proceeds: A portion used to repay a bridge advance from Conifex's existing senior secured timber lender; the balance is available for working capital and general corporate purposes.
• Operational Updates:
  • Sawmill successfully restarted in February.
  • Company is progressing toward normalized operations.
  • Anticipates sustaining two-shift operations in the second half of 2026 (subject to fibre supply conditions).
• Earnings Release Schedule:
  • Report: Fourth Quarter 2025 Results.
  • Release Date: Friday, March 13, 2026, before market open.
  • Conference Call: March 13, 2026, at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time).
  • Dial-in: 1-877-883-0383 (Toll-free in Canada and US, Access ID: 4333506).
  • Transcript: Available upon request at [email protected].

Notable Quotes

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