A portion of the term loan was utilized to repay and retire Conifex's existing lumber segment credit facility with Wells Fargo Capital Finance Corporation Canada in the amount of approximately $11 million. The balance of the Term Loan will be available for working capital and general corporate purposes.

In the week ending May 31, 2024, the price of Western S-P-F 2x4 #2&Btr KD (RL) was US$384 mfbm, said forest products industry price guide newsletter Madison’s Lumber Reporter. This is flat from the previous week when it was $384.