Canfor Pulp announces Special Meeting results

Executive Summary

• Shareholders approved the special resolution authorizing Canfor Corp.’s statutory plan of arrangement to acquire all outstanding Canfor Pulp common shares.
• The arrangement provides each shareholder with either 0.0425 Canfor Corp. share or $0.50 cash per Canfor Pulp share; it was approved by 96.02% of votes cast (84.42% excluding excluded votes).
• Completion is expected around March 17, 2026 pending court and regulatory approvals, after which Canfor Pulp’s shares will be delisted from the TSX.

Key Details

• Approval Results: 96.02% of total shareholder votes and 84.42% of eligible votes approved the arrangement.
• Shares Voted: 48,213,373 Common Shares voted, representing ~73.91% of issued and outstanding shares (record date: Jan 20, 2026).
• Consideration Options: Each share will receive either (i) 0.0425 Canfor Corp. common share or (ii) $0.50 cash.
• Exclusions: Shareholders exercising dissent rights, the Purchaser and its affiliates, and other excluded parties are not entitled to consideration.
• Expected Completion: On or about March 17, 2026, subject to satisfaction/waiver of all conditions precedent and final court approval.
• Court Hearing: Final order from the Supreme Court of British Columbia scheduled for March 11, 2026.
• Delisting: Upon completion, Canfor Pulp’s common shares will be delisted from the Toronto Stock Exchange.
• Documentation: Voting results and management information circular are available on SEDAR+ (sedarplus.ca).

Notable Quotes

(No direct quotes were included in the release.)