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GreenFirst Forest Products Inc (PK)

GreenFirst Forest Products Inc (PK) (ICLTF)

3.90
-0.05
(-1.27%)
Cerrado 03 Diciembre 3:00PM

Mejore su cartera: debates en tiempo real e ideas comerciales prácticas.

Estadísticas y detalles clave

Último Precio
3.90
Postura de Compra
3.85
Postura de Venta
4.15
Volume Operado de la Acción
10,328
3.85 Rango del Día 3.95
2.005 Rango de 52 semanas 7.60
Capitalización de Mercado [m]
Precio Anterior
3.95
Precio de Apertura
3.95
Última hora de negociación
Volumen financiero
US$ 40,566
Precio Promedio Ponderado
3.9277
Volumen promedio (3 m)
57,711
Acciones en circulación
17,757,227
Rendimiento del Dividendo
-
Ratio Precio/Utilidad
-1.47
Beneficio por acción (BPA)
-2.65
turnover
436.42M
Beneficio neto
-47.02M

Acerca de GreenFirst Forest Products Inc (PK)

Sector
Finance Services
Industria
Miscellaneous Metal Ores,nec
Sitio web
Sede
Vancouver, British Columbia, Can
Fundado
2014
GreenFirst Forest Products Inc (PK) is listed in the Finance Services sector of the OTCMarkets with ticker ICLTF. The last closing price for GreenFirst Forest Products (PK) was US$3.95. Over the last year, GreenFirst Forest Products (PK) shares have traded in a share price range of US$ 2.005 to US$ 7.60.

GreenFirst Forest Products (PK) currently has 17,757,227 shares in issue. The market capitalisation of GreenFirst Forest Products (PK) is US$70.14 million. GreenFirst Forest Products (PK) has a price to earnings ratio (PE ratio) of -1.47.

ICLTF Últimas noticias

No news to show yet.
Período †Variación(Ptos)Variación %AperturaPrecio MáximoPrecio MínimoAvg. Vol. diarioPrecio Promedio Ponderado
1-0.2-4.878048780494.14.13.85303493.96898958CS
4-0.8-17.02127659574.74.73.85125684.01885023CS
121.27248.4018264842.6286.3252.5774577114.34965461CS
260.25.405405405413.76.3252.0051170002.91118285CS
52-3.5-47.29729729737.47.62.005883943.93826649CS
156-9.1-701319.8722.005559708.48959024CS
2600.411.42857142863.591.52.0055049810.83005684CS

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ICLTF Discussion

Ver más
Renee Renee 2 meses hace
ICLT: effective Oct. 17,2024: Shareholders holding fewer than 1,000 pre-consolidated Common Shares will be entitled to be paid cash consideration equal to that number of pre-consolidation Common Shares held by the holder multiplied by $0.74. Shareholders holding 1,000 or more pre-consolidated Common Shares will have their Common Shares consolidated on an effective 1-for-10 basis.

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
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Buckey Buckey 2 meses hace
ex date tommorrow
Shareholders holding fewer than 1,000 pre-consolidated Common Shares will be entitled to be paid cash consideration equal to that number of pre-consolidation Common Shares held by the holder multiplied by $0.74. Shareholders holding 1,000 or more pre-consolidated Common Shares will have their Common Shares consolidated on an effective 1-for-10 basis.

Trading at .53
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Enterprising Investor Enterprising Investor 3 años hace
Rayonier Advanced Materials Announces Strategic Sale of its Lumber and Newsprint Businesses to GreenFirst Forest Products for approximately $214 million (4/12/21)

JACKSONVILLE, Fla. & VANCOUVER, British Columbia--(BUSINESS WIRE)--Rayonier Advanced Materials Inc. (NYSE: RYAM) (“RYAM”), a global leader in high purity cellulose pulp, and GreenFirst Forest Products Inc. (TSXV: GFP) (“GreenFirst”), a Canadian lumber company, announced today that the parties have entered into a binding asset purchase agreement (the “Agreement”) pursuant to which RYAM has agreed to sell all of its lumber and newsprint facilities and related assets located in Ontario and Québec. (the “Purchased Assets”) to GreenFirst for an expected purchase price of approximately US$214 million including inventory on hand at the time of closing (the “Purchase Price”) which is payable approximately 85% in cash, 15% common shares of the capital of GreenFirst. In addition, a chip offset credit note will be issued to RYAM by GreenFirst in the amount of CDN$7.9 million, which may be set off against amounts owing to GreenFirst for chip purchases, equally over the next 5 years. Notably, RYAM will retain all of the cash generated by the Purchased Assets plus all softwood lumber duties, including earned interest on the duties, paid to the U.S. Department of Commerce through the closing date. RYAM estimates the duties to be approximately $110 million at the time of closing.

“I want to personally thank the lumber and newsprint management team and employees for their dedicated work for Rayonier Advanced Materials. We wish them well as they begin a new chapter with GreenFirst.”

The Purchased Assets:

- include six lumber mills which are located in Chapleau, Cochrane, Hearst and Kapuskasing in Ontario and in Béarn and La Sarre in Québec as well as one newsprint mill located in Kapuskasing, Ontario.

- produced 604 million board feet in 2020 with a combined nameplate capacity of 755 million board feet and are capable of producing a wide range of forest products used in residential and commercial construction, including dimensional lumber, wood chips and by-products.
include the lumber and newsprint mills as well as certain real property, machinery, inventory, permits, licenses and other related assets.

- exclude accounts receivable and accounts payable.

RYAM and GreenFirst have also agreed to a 20-year residual fiber supply agreement to meet the continued fiber sourcing needs of RYAM’s High Purity Cellulose, High Yield and Paperboard operations in Temiscaming, Québec. The closing of the Agreement, which is expected to occur in the second half of 2021, but not prior to July 31, is subject to customary closing conditions, including receipt of regulatory approvals, the transfer of forestry licenses and the approval of the TSX Venture Exchange.

“This is a tremendous opportunity,” said Paul Rivett, Incoming Chairman of GreenFirst Forest Products and Chairman of NordStar Capital. “This represents a large step forward to our previously announced strategy of building GreenFirst as focused on lumber, newsprint and forestry investments. We are excited to be expanding our manufacturing footprint through this investment and to beginning a new chapter with all of Rayonier Advanced Materials’ sawmill and forestry employees in Ontario and Québec.”

“The sale of the lumber and newsprint businesses allows us to divest non-core assets at an attractive valuation and positions Rayonier Advanced Materials to further invest in the earnings growth of our core High Purity Cellulose assets and its biofuture while also reducing overall debt. Through our ongoing ownership in GreenFirst, we expect to participate in further upside while maintaining optionality to monetize at an appropriate time,” said Paul G. Boynton, President and Chief Executive Officer of Rayonier Advanced Materials. “I want to personally thank the lumber and newsprint management team and employees for their dedicated work for Rayonier Advanced Materials. We wish them well as they begin a new chapter with GreenFirst.”

For Rayonier Advanced Materials, BofA Securities is serving as financial advisor and McCarthy Tétrault LLP is serving as legal counsel. For GreenFirst, RBC Capital Markets is serving as financial advisor, NordStar Capital is serving as transactional advisor, Norton Rose Fulbright Canada LLP is serving as legal counsel and KPMG Transaction Services assisted with due diligence.

GreenFirst shareholders are directed to GreenFirst’s standalone press release issued today, which provides additional operational and financial information concerning the transaction.

About Rayonier Advanced Materials

Rayonier Advanced Materials is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals and other industrial applications. The Company also manufactures products for lumber, paper and packaging markets. With manufacturing operations in the U.S., Canada and France, Rayonier Advanced Materials employs approximately 4,000 people and generates approximately $1.7 billion of revenues. More information is available at www.rayonieram.com.

About GreenFirst Forest Products

GreenFirst is a forest-first business, focused on environmentally sustainable forest management and lumber production. We believe that sustainable forest planting and harvesting, coupled with the long-term green advantage of lumber, provide GreenFirst with significant cyclical and secular advantages in building products. GreenFirst’s long-term pursuit is to be a global leader in environmentally sustainable lumber. For more information, please visit: www.gffp.ca

https://www.businesswire.com/news/home/20210412005334/en/
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Enterprising Investor Enterprising Investor 3 años hace
GreenFirst to Acquire Forest and Paper Products Assets in Ontario and Québec with expectation to become top-ten lumber producer in Canada and Announces proposed Debt and Equity Financings (4/12/21)

Transaction establishes a strong foundation for GreenFirst's strategy to invest in pure-play lumber and forest products opportunities in North America

VANCOUVER, BC, April 12, 2021 /CNW/ - GreenFirst Forest Products Inc. (TSXV: GFP) ("GreenFirst") is pleased to announce that it has entered into a binding asset purchase agreement (the "Agreement") dated April 10, 2021 pursuant to which a wholly-owned subsidiary of GreenFirst (the "Purchaser") has agreed to acquire a portfolio of forest and paper product assets (the "Purchased Assets") from Rayonier A.M. Canada G.P. and Rayonier A.M. Canada Industries Inc. (collectively, "RYAM"), each a subsidiary of Rayonier Advanced Materials Inc. (NYSE: RYAM), which is arm's length to GreenFirst. The Purchaser is acquiring the Purchased Assets for a purchase price of US$140 million plus the value of the inventory on-hand at the time of closing, reflecting an aggregate purchase price expected to be approximately US$214 million (the "Purchase Price") which is payable approximately 85% in cash and approximately 15% in common shares in the capital of GreenFirst (each a "Common Share"). In addition, a chip offset credit note will be issued to RYAM by the Purchaser, in the amount of C$7.9 million which may be set off against amounts owing to GreenFirst for chip purchases equally over the next five years (the "Set-off Note").

In connection with the entering into of the Agreement with RYAM and to satisfy a portion of the Purchase Price, GreenFirst intends to conduct a Rights Offering (as defined below) for gross proceeds of at least US$75 million, which will be backstopped by a commitment from Senvest Management, LLC (including its related parties, "Senvest"), and has entered into a commitment with a New York-based investment fund in respect of a US$120 million senior secured term credit facility. Senvest, together with the investment fund have also committed to make available to the Purchaser a senior secured asset-based revolving credit facility in the amount of US$20 million.

Strategic Rationale

The Purchased Assets include six lumber mills which are located in Chapleau, Cochrane, Hearst and Kapuskasing in Ontario and in Béarn and La Sarre in Québec as well as one newsprint mill located in Kapuskasing, Ontario. The Purchased Assets have an annual production capacity of 755 MMFbm and are capable of producing a wide range of forest products used in residential and commercial construction, including SPF lumber, wood chips and by-products. The newsprint mill has an annual production capacity of 205,000 MT/year. Collectively, the Purchased Assets rank as a top ten producer of lumber in Canada, based on recent publicly available industry rankings.

Management of GreenFirst believes that the proposed transaction will enhance shareholder value due to a perceived attractive Purchase Price for the Purchased Assets and the expected opportunities to generate significant operational efficiencies by optimizing the operations and making capital investments in the mills from operating cash flows. The transaction is also expected to benefit GreenFirst's shareholders for the following reasons:

Growth Opportunities: GreenFirst believes that there are actionable growth opportunities that can be harnessed by investing in the Purchased Assets and optimizing mill performance to reduce cash production costs and potentially increase lumber capacity.

Fiber Supply: GreenFirst will have rights to access approximately 3.29 million m3 of guaranteed fiber supply across Ontario and Québec as part of the Purchased Assets. This represents sufficient fiber supply for all of the mills being acquired.

Secure Chip Demand: GreenFirst will be entering into a 20 year chip supply agreement (the "Chip Purchase Agreement") with RYAM on Closing and will also be acquiring established chip supply agreements as part of the Purchased Assets which will provide steady support and demand for the chips produced by the lumber operations. The Chip Purchase Agreement covers approximately 60% of the Purchased Assets' 2020 chip production, with the remainder to substantially be used by GreenFirst internally.

Attractive Purchase Price: The Purchase Price represents an opportunity for GreenFirst to acquire the Purchased Assets at an attractive price at a 3.4x multiple of 2020 adjusted EBITDA and a purchase multiple of US$185/MMfbm.

Favourable Industry Dynamics: GreenFirst believes that the growth in the construction industry, forecasted U.S. housing starts and a changing Canadian cost-curve are factors that are favourable to the lumber industry in Ontario and Québec.

Experienced Operational Management Team: The GreenFirst management team has extensive lumber and forestry experience. The acquired operations will be led by Rick Doman, one of GreenFirst's newly appointed directors and an industry veteran with over 40 years of experience in the lumber industry, who was the Founder and previously the President and CEO of Eacom Timber.

Management Commentary

With its experienced management team in place, GreenFirst believes that this acquisition will substantially increase its footprint in the lumber industry following its investment in the sawmill in Kenora, Ontario.

Larry Swets, Chief Executive Officer of GreenFirst, commented that "This acquisition represents a significant advancement on our plans to focus GreenFirst on lumber and forestry investments. The acquisition significantly increases our footprint in Ontario and Québec, making us one of the largest companies in the North East focused in this space. We believe this acquisition to be accretive, providing significant value to our business."

Kyle Cerminara, Chairman of GreenFirst, commented that "The combination of transactions that we have put together over the last 12 months is a homerun for shareholders of GreenFirst. We could not be more pleased with this transaction and we are excited about the highly focused future for this secular investment story."

Paul Rivett, Director and incoming Chairman of GreenFirst, commented that "GreenFirst is looking forward to extending a warm welcome to RYAM's employees later this year and to building on RYAM's established relationships with its lumber and newsprint customers. We are very excited to be working with a great investor base, including most prominently Senvest Management, to build a world-class forest products company focussed primarily on environmentally sustainable lumber production and forest management."

Rick Doman, Director and incoming Chief Executive Officer of GreenFirst, commented that "As we have done previously with Eacom on the carve-out of sawmill assets of Domtar, our experienced team looks forward to working with the dedicated employees of RYAM to optimize the sawmill assets with a singular focus on maximizing lumber production."

Asset Purchase Agreement

The Purchaser will acquire the Purchased Assets from RYAM upon the closing of the transactions contemplated in the Agreement (the "Closing"). The Purchased Assets include the lumber and newsprint mills as well as certain real property, machinery, inventory, permits, licenses and other related assets.

The Purchase Price will be paid through a combination of cash, Common Shares (the "Consideration Shares") and the issuance of the Set-off Note. GreenFirst will issue to RYAM such number of Consideration Shares as are equal (on an as converted basis) to 14.9% of the Purchase Price provided that the number of Consideration Shares will be reduced in the event RYAM would acquire more than 19.9% of the issued and outstanding Common Shares immediately after the transactions described herein. It is currently anticipated that following the Closing, RYAM will hold approximately 16.9% of the issued and outstanding Common Shares of GreenFirst, assuming the Rights Offering is fully subscribed. Each Consideration Share will be subject to a four month hold period in accordance with applicable Canadian securities laws. RYAM has agreed not to sell its Consideration Shares for a period of six months following Closing.

The Set-off Note will be issued by the Purchaser to RYAM at Closing, is non-interest bearing and will have a principal amount of C$7,900,000. The principal amount is payable in five equal annual installments on the anniversary of the Closing and the Purchaser may elect to set-off the principal amount of the Set-off Note against amounts owing by RYAM to the Purchaser under the Chip Purchase Agreement.

The obligations of the parties to the Agreement to complete the transactions set out therein are subject to customary conditions for a transaction of this nature, including: the accuracy of representations and warranties; the fulfilment of certain covenants of the parties; the receipt of certain regulatory approvals, such as anti-trust / competition approvals, the transfer of forestry licenses and the approval of the TSX Venture Exchange (the "TSXV"); the receipt of consents of certain third parties; and there having been no material adverse effect in the operations of RYAM as of the time of Closing.

The transaction will be considered a "Fundamental Acquisition" and a "Reviewable Transaction" under the policies of the TSXV. Accordingly, Closing is subject to the approval of the TSXV. It is anticipated that the TSXV will halt trading in GreenFirst's Common Shares until such time as the TSXV has determined that the transaction will be acceptable based upon GreenFirst's filing of all required documentation. The policies of the TSXV provide that the halt will be brief and lifted following the TSXV's review of the requested documents. GreenFirst expects to deliver to the TSXV all the required documents in the coming days. Closing is not subject to shareholder approval of RYAM, GreenFirst or the Purchaser.

It is currently expected that, subject to the receipt of all regulatory and other approvals, and the satisfaction or waiver of all conditions, Closing will occur in the second half of 2021.

Further details regarding the terms of the transaction are set out in the Agreement, which will be publicly filed by GreenFirst under its profile at www.sedar.com.

Financing Summary

In order to finance the cash portion of the Purchase Price, and to fund ongoing working capital and anticipated capital expenditures required in connection with the Purchased Assets, GreenFirst and the Purchaser intend to complete the equity and debt financings described below.

GreenFirst intends to file a prospectus to conduct a backstopped rights offering to finance a portion of the Purchase Price (the "Rights Offering"). GreenFirst intends to issue three rights (each a "Right") for each of its outstanding Common Shares with each Right being exercisable, at a subscription price of C$1.50 (the "Exercise Price") to acquire a subscription receipt (each a "Subscription Receipt"). Each Subscription Receipt will, upon Closing and without any further consideration, automatically be exchanged into a Common Share. Senvest has, pursuant to a binding commitment, agreed to purchase, at the Exercise Price, all Subscription Receipts that are not otherwise subscribed for under the Rights Offering such that at least US$75 million of Subscription Receipts are issued. Certain directors and officers of GreenFirst have agreed with Senvest that they will not exercise all or a portion of their Rights or will transfer their Rights to Senvest in the event the backstop commitment amount is less than US$50 million to ensure that Senvest will hold a minimum of US$50 million in GreenFirst following completion of the Rights Offering. In consideration for providing the backstop commitment, Senvest will be granted warrants to acquire Common Shares equal to US$18,750,000 at an exercise price equal to the lower of C$3.18 and such other price as may be consented to by the TSXV and given customary nomination rights in respect of one independent director and customary registration rights for so long as Senvest holds at least 15% of the issued and outstanding Common Shares. The backstop commitment is subject to customary terms and conditions, which will be detailed in a formal backstop commitment agreement. Insiders of GreenFirst and their families have likewise committed, either directly or indirectly, to exercising at least US$4 million of Rights or other already outstanding convertible or exercisable securities of GreenFirst and have agreed not to sell or transfer their Common Shares for a period of six months following Closing other than under customary exceptions.

If the Rights are exercised in full, the gross proceeds to GreenFirst from the Rights Offering are expected to be approximately C$148 million and, as a result of the backstop commitment, the minimum gross proceeds to GreenFirst will be US$75 million. GreenFirst expects to file a long form prospectus in each of the provinces and territories of Canada to qualify the distribution of the Rights and the securities underlying the Rights. Additional details concerning the Rights Offering will be contained in the prospectus once filed. The commencement of the Rights Offering is subject to approval by the TSXV and the applicable securities regulatory authorities. The proceeds of the Rights Offering are expected to be used to finance a portion of the Purchase Price payable in respect of the acquisition of the Purchased Assets and for other general corporate purposes.

The Purchaser has also entered into a Commitment Letter with a New York-based investment fund, on behalf of itself and certain of its affiliates and funds managed, advised or sub-advised by it (the "Lenders") pursuant to which the Lenders, have committed to make available to the Purchaser a US$120 million senior secured term credit facility, conditional on the fulfilment of certain customary conditions (the "Debt Financing"). Completion of the Debt Financing is subject to certain conditions including, but not limited to, the completion of an equity financing, which is intended to be satisfied by the Rights Offering. The Purchaser has also entered into a backstop commitment letter with the Lenders and Senvest, on behalf of itself and certain of its affiliates and funds managed, advised or sub-advised by it, collectively as lenders, pursuant to which such lenders have committed to make available to the Purchaser a senior secured asset-based revolving credit facility, in an amount of US$20 million. The Purchaser intends to seek a replacement financing commitment in respect of a larger asset-based revolving credit facility before Closing and has engaged Royal Bank of Canada in this respect. The asset-based revolving credit facility is not intended to be used to finance the payment of any of the Purchase Price due on Closing.

Management Changes

Following the entering into of the Agreement, certain board and management changes are expected to take place to reflect GreenFirst's focus on the lumber industry. It is expected that Rick Doman will replace Larry Swets as the Chief Executive Officer of GreenFirst and that Paul Rivett will replace Kyle Cerminara as the Chairman of the board of directors of GreenFirst. Both Larry Swets and Kyle Cerminara are expected to continue as board members. Rick Doman is a seasoned lumber executive with over 45 years of industry experience.

Investor Call

GreenFirst will host a virtual investor and analyst event hosted by management of GreenFirst on Monday, April 12, 2021 at 4:30 pm EST. In order to participate, please use the conference call details set out below:

Toll-free dial-in number (Canada/US):

1-800-898-3989

Local dial-in number:

416-406-0743

International dial-in numbers:

https://www.confsolutions.ca/ILT?oss=9P1R8008983989

Participant passcode:

8464876#

A replay of the event will be available on GreenFirst's website. A presentation providing an overview of the transaction, the strategic rationale for acquiring the Purchased Assets and GreenFirst's financing plan is available here: https://gffp.ca/home/investors/presentations/.

Advisors

Norton Rose Fulbright Canada LLP is acting as legal counsel to GreenFirst, RBC Capital Markets is acting as financial advisor to GreenFirst, NordStar Capital acted as transaction advisor to GreenFirst and KPMG Transaction Services provided due diligence assistance to GreenFirst. McCarthy Tétrault LLP is acting as legal counsel to RYAM and BoA Securities is acting as financial advisor to RYAM. Goodmans LLP is acting as legal counsel to Senvest and Wilkie Farr & Gallagher LLP is acting as legal counsel to the New York-based investment fund.

About GreenFirst

GreenFirst is a forest-first business, focused on environmentally sustainable forest management and lumber production. We believe that sustainable forest planting and harvesting, coupled with the long-term green advantage of lumber, provide GreenFirst with significant cyclical and secular advantages in building products. GreenFirst's long-term pursuit is to be a global leader in environmentally sustainable lumber. For more information, please visit: www.gffp.ca.

https://www.newswire.ca/news-releases/greenfirst-to-acquire-forest-and-paper-products-assets-in-ontario-and-quebec-with-expectation-to-become-top-ten-lumber-producer-in-canada-and-announces-proposed-debt-and-equity-financings-888945651.html
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Enterprising Investor Enterprising Investor 3 años hace
GreenFirst Announces Strategic Review by 1347 Investors LLC of its Surplus Real Estate Assets (1/13/21)

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.

https://www.newswire.ca/news-releases/greenfirst-announces-strategic-review-by-1347-investors-llc-of-its-surplus-real-estate-assets-878239494.html
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Enterprising Investor Enterprising Investor 3 años hace
Itasca Announces Closing of Investment in Kenora Sawmill by 1347 Investors LLC (10/06/20)

VANCOUVER, BC, Oct. 6, 2020 /CNW/ - Itasca Capital Ltd. (TSXV: ICL) ("Itasca" or "Company") is pleased to announce that, further to its press release of September 17, 2020, one of its investee companies, 1347 Investors LLC ("1347 LLC"), today completed its investment in a sawmill and related assets located in Kenora, Ontario

The purchased assets are comprised of a sawmill and related equipment and lands of approximately 114 acres. The sawmill, sitting on a 42 acre site, is expected to consume up to 650,000 cubic meters of annual allowable harvest from Ontario forests and is equipped to produce up to 150 million board feet (MMBF) per year on 2 shifts of quality SPF (Premium, #1&2, stud grade and MSR grades focused on PET 8-9' lumber products). The sawmill is located near major transportation routes, including the Trans-Canada Highway and the main Canadian Pacific rail line, providing easy access to the nearby Canadian-United States border and several key mid-west U.S. markets, including Minneapolis, Chicago, St. Louis and Dallas. It is expected that the Kenora sawmill can be optimized to achieve production capacity of 200 million board feet annually.

Larry Swets, Director and Chief Executive Officer of Itasca stated, "Our enthusiasm could not be higher about the advancement made by our principal investment at 1347 LLC. Not only do we believe that 1347 LLC acquired the sawmill at a very attractive price, we are excited to see this asset grow as it is brought online."

Kyle Cerminara, Chairman of the Board of Directors of Itasca added, "We are pleased to have 1347 LLC close its investment in the Kenora Sawmill and look forward to executing on Itasca's recently announced developments, including the addition of Paul Rivett and Rick Doman to the Board of Itasca."

https://www.newswire.ca/news-releases/itasca-announces-closing-of-investment-in-kenora-sawmill-by-1347-investors-llc-858669588.html
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Enterprising Investor Enterprising Investor 3 años hace
Itasca Announces Change of Name to GreenFirst Forest Products Inc. (1/11/21)

VANCOUVER, BC, Jan. 11, 2021 /CNW/ – Itasca Capital Ltd. (TSXV: ICL) (“Itasca” or the “Company”) is pleased to announce that, further to its news release dated September 17, 2020, the Company has changed its name to “GreenFirst Forest Products Inc.” Effective at the opening of trading on January 13, 2021, the common shares of the Company will trade on the TSX Venture Exchange under the new name and under the new trading symbol of “GFP”. There is no consolidation of capital associated with the name change.

“The new name better reflects our current strategy and focus following the acquisition of the Kenora sawmill by 1347 Investors LLC and as we pursue new pure-play lumber investments” said Larry Swets, Chief Executive Officer of GreenFirst. “We encourage those interested in learning more about our new strategy to visit our new website at www.gffp.ca for further details.”

No action is required from shareholders in connection with the name change. Share certificates representing common shares of the Company will not be affected by the name change and will not need to be exchanged. The Company encourages shareholders to contact their broker or agent with any questions regarding the proposed name change. The new CUSIP for the Company’s common shares is 39526A100.

http://gffp.ca/home/investors/news/itasca-announces-change-of-name-to-greenfirst-forest-products-inc/
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Renee Renee 4 años hace
Effective Jan. 13,2021 Itasca Cap Ltd. will change to GreenFirst Forest Products Inc.

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
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Renee Renee 8 años hace
KBXMF changed to ICLTF:

http://otce.finra.org/DLSymbolNameChanges
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Renee Renee 8 años hace
Kobex Capital Corp. changed to Itasca Cap Ltd.:

http://otce.finra.org/DLSymbolNameChanges
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Renee Renee 10 años hace
Kobex Minerals Inc. changed to Kobex Capital Corp.:

http://www.otcbb.com/asp/dailylist_detail.asp?d=08/28/2014&mkt_ctg=NON-OTCBB
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Renee Renee 12 años hace
KXM delisted from AMEX to OTC. New ticker KBXMF.

http://www.otcbb.com/asp/dailylist_detail.asp?d=05/31/2013&mkt_ctg=NON-OTCBB
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RonnieD RonnieD 14 años hace
Kobex Terminates Island Copper Option
Friday 2 July 2010

Kobex Minerals Inc. ("Kobex" or the "Company") (TSX VENTURE: KXM)(NYSE Amex: KXM) has advised Western Copper Corporation ("Western Copper") that it is terminating its option agreement on the Island Copper property in accordance with the terms of that agreement.

Alf Hills, President of the Company says, "We have finished our review of the order of magnitude engineering study that the Company initiated late in 2009 following the amalgamation of IMA Exploration Inc., Kobex Resources Ltd., and International Barytex Resources Ltd. After careful consideration of that study and exploration work that has been carried out in the area over several decades, the Company has decided to terminate its option agreement with Western Copper that was originally entered into by IMA Exploration Inc.

The Company will continue to pursue its strategy of the identification, acquisition and development of known mineral deposits. While the commodity focus is gold, copper and uranium we have considered, and continue to consider, any commodity with economic potential.

The Company has approximately $40 million cash and is well funded to take advantage of mineral opportunities which are brought to its attention."

On behalf of the Board of Directors

KOBEX MINERALS INC.

Alfred Hills, President and CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contacts:

Kobex Minerals Inc.

Alfred Hills

President

604-688-9368



Kobex Minerals Inc.

Sam Yik

CFO

604-688-9368

604-688-9336 (FAX)

investor@kobexminerals.com

www.kobexminerals.com


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RonnieD RonnieD 15 años hace
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RonnieD RonnieD 15 años hace
they are identifying new projects to buy and develop.
i haven't talked to Sean in a while, maybe you can give him a call. Wait for Pacific time zone time.
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kiwisteve kiwisteve 15 años hace
What do you think is going on behind the scenes here? a near producing gold mine?

kiwi
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RonnieD RonnieD 15 años hace
http://www.kobexminerals.com

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RonnieD RonnieD 15 años hace
well there you go. .82 is the ground floor.
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kiwisteve kiwisteve 15 años hace
Kobex Grants Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2009) - Kobex Minerals Inc. ("Kobex" or the "Company") (TSX VENTURE:KXM)(NYSE Amex:KXM) announces pursuant to the Company's stock option plan, it has granted incentive stock options to directors, employees and consultants of the Company for the purchase of a total of 2,670,000 common shares for a period of 5 years at a price of $0.82 per share.

On behalf of the Board of Directors

KOBEX MINERALS INC.

Alfred Hills, President and CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

http://www.marketwire.com/press-release/Kobex-Minerals-Inc-TSX-VENTURE-KXM-1066548.html

For more information, please contact
Kobex Minerals Inc.
Alfred Hills
President
604-688-9368
or
Kobex Minerals Inc.
Sam Yik
CFO
604-688-9368
604-688-9336 (FAX)
investor@kobexminerals.com
www.kobexminerals.com
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RonnieD RonnieD 15 años hace
nice. BKUCF is .49 cents. theie shares were at .12
nice profit from the warrant sale to add to the company's cash drawer around $46 million and they still have the shares.
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kiwisteve kiwisteve 15 años hace
Kobex Sells Blue Sky Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2009) -

Kobex Minerals Inc. ("Kobex" or the "Company") (TSX VENTURE:KXM)(NYSE Amex:KXM) announces that effective October 26, 2009, the Company has sold 8,333,333 warrants of Blue Sky Uranium Corp. ("Blue Sky") that it had acquired as part of previous private placements (see Blue Sky news releases dated September 19, 2008 and October 29, 2008) for proceeds totalling $528,333.31 Canadian dollars. Kobex retains 8,333,333 common shares that it had acquired at $0.12 Canadian dollars per unit.

President Alfred Hills says, "Sale of these warrants reflects arrangements agreed to prior to our amalgamation on Sept. 30, 2009. Kobex believes that Blue Sky's recent exploration results and corporate news underscores Blue Sky as an exploration story in which Kobex is pleased to continue to hold a substantial position."

On behalf of the Board of Directors

KOBEX MINERALS INC.

Alfred Hills, President and CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

For more information, please contact
Kobex Minerals Inc.
Alfred Hills
President
604-688-9368
or
Kobex Minerals Inc.
Sam Yik
CFO
604-688-9368
604-688-9336 (FAX)
investor@kobexminerals.com
www.kobexminerals.com

http://www.marketwire.com/press-release/Kobex-Minerals-Inc-TSX-VENTURE-KXM-1065784.html

Edit - Link to Blue Sky Uranium Corp.
http://www.blueskyuranium.com/s/StockInfo.asp

kiwi
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kiwisteve kiwisteve 15 años hace
KXM chart


on watch - Kiwi
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RonnieD RonnieD 15 años hace
added info to ibox, will request ticker change.
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RonnieD RonnieD 15 años hace
celebrate.. and our KXM is now .83 x .86 just where it should be.

neat.
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kiwisteve kiwisteve 15 años hace
Barytex & Kobex: Plan of Arrangement, Name Change and Consolidation, Delist

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2009) - IMA Exploration Inc. ("IMA"), (TSX VENTURE:IMR)(NYSE Amex:IMR), Kobex Resources Ltd. ("Kobex") (TSX VENTURE:KBX) and International Barytex Resources Ltd. ("Barytex") (TSX VENTURE:IBX) are pleased to announce that the business combination (the "Transaction") announced in joint news releases dated July 16 and August 18, 2009, and described in the Joint Information Circular mailed to Kobex and Barytex shareholders, was completed on September 30, 2009.

The Transaction was effected by way of court approved statutory plans of arrangements (the "Arrangements") under the Business Corporations Act (British Columbia), pursuant to which all of the issued and outstanding securities of Kobex and Barytex at the effective time were exchanged for IMA securities on the following basis: (i) 1.311 IMA common shares for each Kobex common share; (ii) 0.221 IMA common shares for each Barytex common share; and (iii) stock options and warrants exercisable to acquire IMA common shares on an adjusted basis to reflect the respective share exchange ratios, for each of the Kobex and Barytex stock options and warrants.

Following the completion of the Arrangements, the common shares of IMA were consolidated on a 2.4 old shares for one new share basis, and IMA's name has been changed to "Kobex Minerals Inc.".

The Kobex Minerals Inc. shares will commence trading on a post-consolidated basis on the TSX Venture Exchange and on NYSE Amex at the open of trading on October 1, 2009 under the symbol "KXM". The shares of Kobex and Barytex will be delisted from the TSX Venture Exchange effective at the close of trading on September 30. 2009.

Outstanding IMA share purchase warrants which currently trade on the TSX Venture Exchange under the symbol "IMR.WT.A" have been adjusted as a result of the consolidation and are now exercisable to acquire an aggregate of 596,875 common shares of Kobex Minerals Inc. at a price of $9.12 per share until March 21, 2010. The warrants are expected to commence trading under a new symbol on or before October 5, 2009.

CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

http://www.marketwire.com/press-release/International-Barytex-Resources-Ltd-TSX-VENTURE-IBX-1052986.html
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RonnieD RonnieD 15 años hace
i'm not counting on a pop..
just want to see the name change and have my shares exchanged for new ones and see where it goes.

long haul on this
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PENNYPRINCE 1 PENNYPRINCE 1 15 años hace
Ty and maybe now we can get a pop in the stock.
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RonnieD RonnieD 15 años hace
nice 3-party news. deal is done.

1/2.4 = .416666

http://www.imaexploration.com/i/pdf/2009-09-28_NR.pdf

new name to be Kobex Minerals
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PENNYPRINCE 1 PENNYPRINCE 1 15 años hace
Ditto
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RonnieD RonnieD 15 años hace
i plan on holding for a long time.
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PENNYPRINCE 1 PENNYPRINCE 1 15 años hace
I agree and may add more but dont want to sell anything here.
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RonnieD RonnieD 15 años hace
it's going to be quite interesting to see what the
world esteemed new management does here.
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PENNYPRINCE 1 PENNYPRINCE 1 15 años hace
I bought in today.
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RonnieD RonnieD 15 años hace
already a shareholder.
pros are running this, but there's still a chance after the merger there could be a better opportunity. any discreapancy i expect to be quickly adjusted.
right here the cash is about .416, right at the share exchange rate. the new stock will have to be around .87 to be equal to this .36 pre-merger.

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kiwisteve kiwisteve 15 años hace
Ronnie D, Are you a shareholder already, or waiting till after the 25th?
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RonnieD RonnieD 15 años hace
I just spoke to Sean at investor relations.
The combined company will be ratified on the 25th this month at Shareholder Meeting. Proxy voting.
Post-merger, an IMR shareholder will own 416 shares instead of 1000. (.416) however the combined company, to be called Kobex____ (not sure of whole name, but Kobex will be part of it) will have cash of $44 million instead of $22 million.
Share count will also be around 44 million - meaning $1.00 share in cash.
Trading on Vancouver also presently, but plan to add Toronto after an acquisition.
Not only will Roman Shklanka be installed as CEO (he is in the Canadian Mining Hall of Fame), but Alex Davidson, former Senior VP of Barrick Gold will be on the BOD. This marks the first time Mr. Davidson ever worked with a junior mining company.
The copper property on Vancouver Island will be scoped and further evaluated for $50k cost, however the new focus of the new company will be in the Precious Metals camp.
This is exciting.. These guys just do not fail with their track records.
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RonnieD RonnieD 15 años hace
.35 prior resistance becoming support to .45
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kiwisteve kiwisteve 15 años hace
Weekly/Daily charts: IMR


On watch
Kiwi

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Soapy Bubbles Soapy Bubbles 15 años hace
Huh -- catching up. Looks better than when I first poked my head in.
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RonnieD RonnieD 15 años hace
the combined new company will have 44 million cash.
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kiwisteve kiwisteve 15 años hace
Just reading the info from the company web site:

IMA Exploration Inc is a Vancouver-based exploration company with a history of discovery success in the precious metal sector, over $20 million CDN in its treasury, and a plan for success during these challenging economic times.The Company has no debt and has reduced its burn rate by close to 50% since the summer of 2008. As a shareholder of IMA Exploration, you are aligned with management's belief that cash is even more valuable an asset to a mining exploration company than property, in times of economic downturn. It is the preservation of cash that has created a compelling investment opportunity for IMA's shareholders. IMA will continue, with its merger and acquisition team, to evaluate projects and companies that meet all of the Company's exacting criteria for proven value with exceptional exploration upside.

June 04, 2009
Share Capitalization

Share Structure

Issued & Outstanding 52,132,064
Warrants Outstanding 1,666,670
Options Outstanding 1,468,000

Fully Diluted 55,266,734


Warrants Summary

Expiry Date Grant Price Outstanding
14-Sep-09 $3.45 1,666,670


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Soapy Bubbles Soapy Bubbles 15 años hace
I haven't kept up -- which PR did I miss?
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kiwisteve kiwisteve 15 años hace
The 20m cash at the bank divided by 55m shares = current share price?
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RonnieD RonnieD 15 años hace
interesting 3-way merger, to become Kobex.
new CEO inducted into the Canadian Mining Hall of Fame.

http://www.imaexploration.com/s/NewsReleases.asp?ReportID=360238
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Soapy Bubbles Soapy Bubbles 15 años hace
http://www.imaexploration.com/s/Home.asp
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bihoreanu bihoreanu 17 años hace
breakout - right on schedule.
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bihoreanu bihoreanu 18 años hace
market glitch. temporary setback here.
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bihoreanu bihoreanu 18 años hace
great. should go back up sooner that that expected.
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FuNkYdrummer FuNkYdrummer 18 años hace
Interesting you just started this board as I just starting watching this stock about a week ago. I'm waiting to see if there is any follow thru after todays action. Nice base been built the last 6 months. You have a position already?
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EnergyGuy62 EnergyGuy62 18 años hace
Strange choice for a Canadian resource company that you would be a shareholder with.

Their major property is involved in a lawsuit...and a unfavorable decision has already been rendered which is now under appeal!!

Were you a shareholder before the lawsuit?

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