Business
GreenFirst Announces Strategic Review by 1347 Investors LLC of its Surplus Real Estate Assets
GreenFirst Announces Strategic Review by 1347 Investors LLC of its Surplus Real Estate As...
About this update from Greenfirst Forest Products Inc
[{"type":"text","content":"\n \n \n \n GreenFirst Announces Strategic Review by 1347 Investors LLC of its Surplus Real Estate Assets\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 VANCOUVER, BC\n \n ,\n \n Jan. 13, 2021\n \n /CNW/ - GreenFirst Forest Products Inc (TSXV\n \n :\n \n GFP\n \n )\n \n (\"\n \n GreenFirst\n \n \" or the \"\n \n Company\n \n \"), is pleased to announce that 1347 Investors LLC (\"\n \n 1347 LLC\n \n \"), one of its investee companies, has initiated a strategic review process to explore and evaluate a broad range of alternatives to increase and maximize shareholder value with respect to its real estate assets following its acquisition of the sawmill and related surplus lands located in\n \n Kenora, Ontario\n \n .\n \n \n Following the acquisition of the sawmill on\n \n October 6, 2020\n \n , 1347 LLC owns 118 acres of land on the northern shore of\n \n Lake of the Woods\n \n in the town of\n \n Kenora, Ontario\n \n , including a four-acre island in Keewatin Bay and approximately one kilometer of mainland shoreline. As part of the strategic review process, 1347 LLC intends to explore ways to maximize the future operations of the sawmill along with the development potential of the surplus lands with various stakeholders.\n \n \n 1347 LLC has advised the Company that it has not made any decisions related to strategic alternatives at this time and there can be no assurance that the evaluation of strategic alternatives will result in any transaction or change in strategy. No timeline for completion of the strategic review process has currently been defined by 1347 LLC. The Company does not intend to comment further unless and until the board of directors of 1347 LLC has approved a specific course of action or the Company has determined that further disclosure is appropriate or necessary.\n \n \n \n Forward Looking Information\n \n \n \n Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not st...