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Canfor Announces Renewal of Normal Course Issuer Bid
Canfor Announces Renewal of Normal Course Issuer Bid Canada NewsWire VANCOU...
About this update from Canfor Corporation
[{"type":"text","content":"\n\n\n\n Canfor Announces Renewal of Normal Course Issuer Bid\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n March 19, 2025\n \n\n /CNW/ - Canfor Corporation (TSX: CFP) (\"\n \n Canfor\n \n \" or the \"\n \n Company\n \n \") announced today that it has received regulatory approval to renew a normal course issuer bid that will expire in March, 2025. Under the new bid, the Company may purchase for cancellation up to 5,916,775 common shares of the Company (the \"\n \n Shares\n \n \") or approximately 5% of the 118,335,510 Shares outstanding as of March ‎14, 2025, at prevailing market prices, in accordance with the rules of The Toronto Stock Exchange (the \"\n \n TSX\n \n \"). The Company repurchased a total of ‎464,969 Shares for cancellation from\n \n March 21, 2024\n \n , to and ‎including March ‎14, 2025 under its prior bid, at a volume weighted average price of $‎15.4936 per ‎Share, through the facilities of the TSX. Under its prior ‎bid, the Company sought and was approved to purchase 5,942,508 Shares‎.\n \n\n\n\n\n\n\n\n\n The renewed normal course issuer bid will commence on March ‎21, 2025 and continue until March ‎20, 2026, unless completed or terminated earlier. Canfor believes that the purchase of Shares under the normal course issuer bid represents an ‎effective use of the Company's financial resources and is in the best interests of the ‎Company‎.\n \n\n The Company has entered into an automatic share purchase plan with a broker providing for the ‎‎repurchase of Shares under the renewed normal course issuer bid.\n \n\n Purchases of Shares made under the bid will be made at the discretion of the Company at prevailing market prices, and will be effected through the facilities of the TSX, other designated exchanges, and/or through one or more Canadian alternative trading systems, in compliance with regulatory requirements. Daily purchases will be restricted to not more than ‎52,874 Share...