GreenFirst Forest Products has secured a new $30 million term loan under the Canadian government’s Softwood Lumber Program, bolstering liquidity as the company navigates volatility in the North American lumber market.
The financing, arranged with banking partner BMO, is intended to support ongoing operations and improve financial flexibility during a period of weaker demand and pricing pressure across the sector. GreenFirst said the additional capital extends its runway while it continues executing operational and strategic priorities.
“This financing under the federal Softwood Lumber Program strengthens our balance sheet and provides important liquidity during a difficult period for the industry,” CEO Joël Fournier said, adding that the company appreciates support from both the Government of Canada and BMO as it works to position the business for long-term stability and value creation.
The Softwood Lumber Program was launched by the Government of Canada to provide support to eligible Canadian softwood lumber producers facing adverse market conditions, including reduced demand and pricing headwinds.
GreenFirst is a lumber producer focused on sustainable forest management, operating four sawmills and managing more than 6 million hectares of FSC-certified public Ontario forestlands.
KEY QUOTES
“This financing under the federal Softwood Lumber Program strengthens our balance sheet and provides important liquidity during a difficult period for the industry. We appreciate the continued support of the Government of Canada and BMO as we work to position GreenFirst for long-term stability and value creation.”
Joël Fournier, CEO, GreenFirst Forest Products
