Nov 29, 2013. /Lesprom Network/. Conifex Timber Inc. announced that its wholly-owned subsidiary, Conifex Power Limited Partnership, has closed its previously announced secured project financing for its planned 36MW bioenergy power project in Mackenzie, British Columbia (the "Power Project") with a syndicate of four institutional lenders led by a Canadian chartered bank.

The Project Financing is for an aggregate of up to $102.7 million and includes a development and construction loan for the Power Project of up to $82 million (the "Loan Facility").

The Loan Facility consists of a construction loan which will mature approximately 12 months from the closing date and convert into an amortized term loan having a term of 5 years once the conditions to conversion are satisfied, including substantial completion of construction of the Power Project. The balance of the Project Financing is in the form of a letter of credit facility primarily to secure certain obligations of Conifex Power under its existing load displacement agreement and a $1.75 million revolving operating facility.

Conifex Timber Inc. and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, and the manufacture, sale and distribution of dimension lumber.