VANCOUVER, BC, Jan. 13, 2021 /CNW/ - GreenFirst Forest
Products Inc (TSXV: GFP) ("GreenFirst" or the
"Company"), is pleased to announce that 1347 Investors LLC
("1347 LLC"), one of its investee companies, has initiated a
strategic review process to explore and evaluate a broad range of
alternatives to increase and maximize shareholder value with
respect to its real estate assets following its acquisition of the
sawmill and related surplus lands located in Kenora, Ontario.
Following the acquisition of the sawmill on October 6, 2020, 1347 LLC owns 118 acres of
land on the northern shore of Lake of the
Woods in the town of Kenora,
Ontario, including a four-acre island in Keewatin Bay and
approximately one kilometer of mainland shoreline. As part of
the strategic review process, 1347 LLC intends to explore ways to
maximize the future operations of the sawmill along with the
development potential of the surplus lands with various
stakeholders.
1347 LLC has advised the Company that it has not made any
decisions related to strategic alternatives at this time and there
can be no assurance that the evaluation of strategic alternatives
will result in any transaction or change in strategy. No timeline
for completion of the strategic review process has currently been
defined by 1347 LLC. The Company does not intend to comment further
unless and until the board of directors of 1347 LLC has approved a
specific course of action or the Company has determined that
further disclosure is appropriate or necessary.
Forward Looking Information
Certain information in this news release constitutes
forward-looking statements under applicable securities laws. Any
statements that are contained in this news release that are not
statements of historical fact are forward-looking statements.
Forward looking statements are often identified by terms such as
"may", "should", "anticipate", "expect", "potential", "believe",
"intend", "estimate" or the negative of these terms and similar
expressions.
Forward-looking statements in this news release include, but are
not limited to statements regarding 1347 LLC's strategic review
process. Forward-looking statements are based on certain
assumptions and, while the Company considers these assumptions to
be reasonable, based on information currently available, they may
prove to be incorrect. In addition, forward-looking statements
necessarily involve known and unknown risks, including, without
limitation, that the strategic review may not enhance shareholder
value; and that the strategic review may not be completed within a
reasonable timeframe, or at all. Readers are cautioned that the
foregoing list is not exhaustive and other risks are set out in the
Company's public disclosure record filed under the Company's
profile on www.sedar.com. Readers are further cautioned not to
place undue reliance on forward-looking statements as there can be
no assurance that the plans, intentions or expectations upon which
they are placed will occur. Such information, although considered
reasonable by management at the time of preparation, may prove to
be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement and
reflect our expectations as of the date hereof, and thus are
subject to change thereafter. The Company disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Neither TSXV nor its Regulation Services Provider (as that term
is defined in policies of the TSXV) accepts responsibility for the
adequacy or accuracy of this news release.
SOURCE Itasca Capital Ltd.