Interfor Announces Intention to Commence Substantial Issuer Bid

Jul 26, 2022

BURNABY, British Columbia, July 26, 2022 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) announced today its intention to commence a substantial issuer bid (the “Offer”) pursuant to which the Company will offer to purchase up to $100,000,000 in value of its outstanding common shares (the “Shares”) for cancellation from holders of Shares (the “Shareholders”) for cash. The Offer will proceed by way of a “modified Dutch auction” procedure with a tender price range from $29.00 to $34.00 per Share, representing a 3.5% to a 21.3% premium over the Company’s volume-weighted average price on the Toronto Stock Exchange over the last 20 trading days.

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