GreenFirst sells interest in private forest land for $49.25 million

GreenFirst Forest Products Inc. (TSX: GFP) (“GreenFirst”) is pleased to announce that its subsidiary, GreenFirst Forest Products (QC) Inc. has entered into an agreement to sell its interest in approximately 203,000 acres of private forest land (the “Property”) to Perimeter Forest Limited Partnership (“Perimeter”) for cash consideration totaling $49.25 million. The Property is located in the boreal forest south of Kapuskasing, Ontario.

“We are pleased to announce this transaction with Perimeter” said Paul Rivett, GreenFirst’s Chairman. “The sale of these lands will allow Perimeter to foster long term ecosystem benefits on the Property and unlocks hidden value for GreenFirst shareholders.” Daniel Andres, Perimeter’s Chief Operating Officer noted that “GreenFirst’s legacy of good stewardship of the land combined with its attractive ecological features were value drivers for Perimeter”.

The transaction is scheduled to close on November 9th, 2022.
https://greenfirst.ca/2022/11/07/

Related Posts

Suzano Reports First Quarter 2023 Results

The more challenging macroeconomic scenario and market pulp fundamentals pressured the revenues during the quarter. The decline in pulp prices and sales volumes in relation to the previous quarter resulted in lower adjusted EBITDA from the segment compared to 4Q22. The paper business unit registered EBITDA per ton growth, driven by better prices despite lower sales volume associated with a strategy to recompose inventories. Consequently, adjusted EBITDA in the quarter came to R$6.2 billion, down 25% from 4Q22, and 20% higher than in 1Q22.

New tariffs will cost Corner Brook Pulp and Paper $30M a year

Premier Dwight Ball is worried about the impact of huge tariffs on newsprint from Corner Brook Pulp and Paper, following the introduction of another new tarriff by the United States. Just two months after the mill was hit by an export duty of nearly 10 per cent, the U.S. Department of Commerce on Tuesday announced an anti-dumping duty of 22.16 per cent — the result, it says, of a preliminary investigation that found Canadian exporters underpriced uncoated groundwood paper by up to that amount. The total tariffs will now add 32 per cent to the cost of newsprint — the highest duties of any mill in Canada. Click Read More below for additional information.
Back To Top
×Close search
Search