GreenFirst Announces Agreement with Mahogany Investors for Sale of Duties

GreenFirst Forest Products Inc. (TSX: GFP) (“GreenFirst” or the “Company”) GreenFirst, is pleased to announce a strategic agreement with Mahogany Investors, LLC regarding the sale of its entitlements to refunds, including accrued interest, related to duties imposed on softwood lumber exported from Canada to the United States during the specified period 2021 and 2022.

The agreed sale price for these entitlements is approximately $17,500,000 USD, with the potential for additional proceeds based on the timing and resolution of the ongoing trade dispute.

“This agreement underscores our commitment to strengthening our financial foundation while maintaining focus on our core business operations,” said Joel Fournier, GreenFirst’s CEO. “By monetizing these refund rights, we are unlocking value and enhancing our ability to pursue strategic initiatives. The recent rights offering, combined with today’s transaction, will provide enough liquidity to execute Phase I of our strategic expenditures plan to become the largest sawyer in Ontario and get the company closer to becoming a top quartile lumber producer.”
more at: https://greenfirst.ca/2024/12/greenfirst-announces-agreement-with-mahogany-investors-for-sale-of-duties/

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