Conifex Timber : Announces COVID-19 Response Measures

VANCOUVER, British Columbia, April 01, 2020 (GLOBE NEWSWIRE) -- Conifex Timber Inc. (TSX: CFF) announced today steps it has taken in response to the COVID-19 pandemic to protect the health and safety of its employees and to respond to rapidly changing market conditions.

The heath and safety of our employees, contractors and their families is our top priority. In addition to adhering to public health directives, we have implemented a pandemic contingency plan to guide our employees, contractors, visitors, facilities and operations. Our plan includes restricting access to our offices and operation sites, restricting business travel, mandating self-isolation for anyone who has travelled, is exhibiting symptoms or has been exposed to the virus, practicing appropriate social distancing at our premises and increasing the frequency and emphasis on cleaning and sanitizing.

We will continue to rely on guidance and recommendations from local health authorities as the health-crisis develops.

The COVID-19 pandemic is also impacting global demand for forest products. In response, effective April 6, 2020, we will temporarily curtail operations at our Mackenzie, British Columbia sawmill for two weeks. The curtailment is not expected to have any adverse consequence on our bioenergy operations.

The COVID-19 situation is rapidly evolving. We may need to make further adjustments to our operating plans as a result.

For further information, please contact:

Media Contact: Kristen Gammel VP/GM, Corporate Services [phone] [e-mail]

Investor Contact: Jordan Neeser Chief Financial Officer [phone] [e-mail]

About Conifex Timber Inc.

Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing and distribution. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets. Conifex also produces bioenergy at its power generation facility at Mackenzie, BC.  

Forward-Looking Statements

Certain statements in this news release may constitute “forward-looking statements”, including statements about Conifex’s future lumber production, the expected timing or duration thereof and the impact, duration and effect of the COVID-19 pandemic on our operations at Mackenzie. Forward-looking statements are statements that address or discuss activities, events or developments that Conifex expects or anticipates may occur in the future. When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “projects”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of Conifex's management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Conifex and its industry may be materially different from those implied by such forward-looking statements. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including lumber price volatility, lumber market conditions, the impact, duration and response to the COVID-19 pandemic, log costs, log quality and availability and other risks described in Conifex's 2019 AIF, available on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and Conifex undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.    

Source: Conifex Timber Inc

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