Interfor Provides Update on Director Succession Process

/EIN News/ — BURNABY, British Columbia, April 06, 2023 (GLOBE NEWSWIRE) — INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) provided an update on its ongoing director succession process. The Company has updated its diversity target for its board of directors (“Board”) and commits that at least 30% of its Board members will be women by its next annual general meeting of shareholders (“AGM”) in 2024. The sole reason the Company could not revert to at least 30% women representation on its Board at the upcoming May 2023 AGM, was the unexpected unavailability of Ms. Hull for re-election, for personal reasons. For more information regarding the Company’s ongoing director succession process, which includes consideration of a broad range of diversity principles, ensuring continuity and sufficient staffing of the Board and its committees, and the engagement of external search consultants, please see the information circular for our upcoming AGM, which is available for download from our website at www.interfor.com/investors/reports, and under Interfor’s profile on SEDAR at www.sedar.com.

FORWARD-LOOKING STATEMENTS
This release contains forward-looking information about the Company’s director succession process. A statement contains forward-looking information when the Company uses what it knows and expects today, to make a statement about the future. Readers are cautioned that actual results may vary from the forward-looking information in this release, and undue reliance should not be placed on such forward-looking information. Risk factors that could cause actual results to differ materially from the forward-looking information in this release are described in Interfor’s annual Management’s Discussion & Analysis under the heading “Risks and Uncertainties”, which is available on www.interfor.com and under Interfor’s profile on www.sedar.com. Unless otherwise indicated, the forward-looking statements in this release are based on the Company’s expectations at the date of this release. Interfor undertakes no obligation to update such forward-looking information or statements, except as required by law.

ABOUT INTERFOR
Interfor is a growth-oriented forest products company with operations in Canada and the United States. The Company has annual lumber production capacity of approximately 5.2 billion board feet and offers a diverse line of lumber products to customers around the world. For more information about Interfor, visit our website at www.interfor.com.

Investor Contacts:

Rick Pozzebon, Executive Vice President & Chief Financial Officer
(604) 689-6804

Mike Mackay, Vice President, Corporate Development & Treasury
(604) 689-6846

Media Contact:

Svetlana Kayumova, Senior Manager, Corporate Affairs & Communications
(604) 422-7329
[email protected]