VANCOUVER, BC -- Conifex Timber Inc. announced today that, due to unforeseen personal circumstances, Blair Mayes will not take up his role as chief operating officer of the Company.
Mr. Mayes stated: "With great regret, I have determined not to be the chief operating officer of Conifex because of unexpected personal circumstances. I hold Conifex and its people in the highest regard and am sorry to miss the opportunity to be part of such an exciting opportunity but believe that my decision is best for me and my family."
Ken Shields, Chairman and Chief Executive Officer of Conifex, stated: "We wish Blair and his family all the very best and will miss the opportunity to have him be part of our team." He continued: "The initiatives we have underway to increase our annualized lumber production from the third quarter level of 150 million to 420 million board feet by the end of the first quarter of 2011 are not expected to be impacted by this development."
About Conifex Timber Inc.
Conifex is an independent British Columbia company formed for the purpose of investing in the forest industry in the interior region of British Columbia and elsewhere in Canada. Conifex and its subsidiaries' primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing. Conifex's lumber products are sold in the Chinese, United States, Canadian and Japanese markets.
Conifex's sawmill situated in Fort St. James, British Columbia was purchased in August 2008 and commenced operations on a one-shift basis in March 2009. At this mill, Conifex intends to move to a two-shift operation in the first half of 2011 upon the completion of a capital expenditure program currently underway. Conifex's sawmill situated in Mackenzie, British Columbia was purchased in June 2010. On a combined basis, Conifex now owns sawmills having an annual lumber production capacity of approximately 745 million board feet on a two-shift basis, all supported by renewable forestry licences with an allowable annual cut of approximately 1.6 million cubic metres.
SOURCE: Conifex Timber Inc.
Mr. Mayes stated: "With great regret, I have determined not to be the chief operating officer of Conifex because of unexpected personal circumstances. I hold Conifex and its people in the highest regard and am sorry to miss the opportunity to be part of such an exciting opportunity but believe that my decision is best for me and my family."
Ken Shields, Chairman and Chief Executive Officer of Conifex, stated: "We wish Blair and his family all the very best and will miss the opportunity to have him be part of our team." He continued: "The initiatives we have underway to increase our annualized lumber production from the third quarter level of 150 million to 420 million board feet by the end of the first quarter of 2011 are not expected to be impacted by this development."
About Conifex Timber Inc.
Conifex is an independent British Columbia company formed for the purpose of investing in the forest industry in the interior region of British Columbia and elsewhere in Canada. Conifex and its subsidiaries' primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing. Conifex's lumber products are sold in the Chinese, United States, Canadian and Japanese markets.
Conifex's sawmill situated in Fort St. James, British Columbia was purchased in August 2008 and commenced operations on a one-shift basis in March 2009. At this mill, Conifex intends to move to a two-shift operation in the first half of 2011 upon the completion of a capital expenditure program currently underway. Conifex's sawmill situated in Mackenzie, British Columbia was purchased in June 2010. On a combined basis, Conifex now owns sawmills having an annual lumber production capacity of approximately 745 million board feet on a two-shift basis, all supported by renewable forestry licences with an allowable annual cut of approximately 1.6 million cubic metres.
SOURCE: Conifex Timber Inc.
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