Conifex Timber Inc. has completed a $19 million secured term loan for its subsidiary Conifex Mackenzie Forest Products Inc. through the Business Development Bank of Canada (BDC) under the Softwood Lumber Guarantee Program. The loan, maturing 15 July 2033, carries interest at BDC's floating base rate minus 0.60% and is secured by the company's lumber business assets.
The facility permits interest-only payments until August 2028. A portion of the proceeds repaid a bridge advance from Conifex's existing senior secured timber lender, with the remaining funds designated for working capital and general corporate purposes.
The company also reported that its sawmill successfully restarted in February and is progressing toward normalized operations, currently anticipating a return to two-shift schedules in the second half of 2026, subject to adequate fibre supply.
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.
