Canfor Sells Forest Tenure in Fort Nelson Area to Peak Renewables

Canfor announced on Tuesday (11/17) that they had reached a multi-year $30 million agreement with Peak Renewables involving the sale of the Company’s forest tenure in the Fort Nelson region of B.C. As always, the transactions are subject to customary closing conditions, which include the approval of the B.C. Minister of Forests. Closing in anticipated in the first quarter of 2021. The agreement follows Peak Renewables’ purchase of Canfor’s Fort Nelson mill assets in the third quarter of 2020. In remarks about the sale, Don Kayne, President and CEO of Canfor said, “I am pleased to have reached an agreement to sell our Fort Nelson tenure to Peak Renewables, a company that is committed to developing a long term plan to rejuvenate the forest industry in the region.”