Acadian Timber Corp. Announces Timberland Acquisition
14 März 2024 - 10:05PM
Acadian Timber Corp. (“Acadian”) (TSX:ADN) has closed on the
acquisition of approximately 16,000 acres of commercial-quality
timberlands in New Brunswick.
“This acquisition demonstrates our ongoing
efforts to further build our asset base in a way that will deliver
long-term value to our shareholders,” commented Adam Sheparski,
President and Chief Executive Officer. “The property is well
stocked, benefiting from historical silviculture investments, and
presents significant potential for revenue diversification through
other land use opportunities.”
On March 14, 2024, Acadian completed the
acquisition of approximately 16,000 acres of timberland in New
Brunswick at a price of $9.0 million, financed through its existing
revolving credit facility. The timberlands are close in proximity
to Acadian’s existing operations and customer base. The acquisition
will allow Acadian to expand its harvesting operations as well as
other land use revenue opportunities.
Acadian Timber Corp. is one of
the largest timberland owners in Eastern Canada and the
Northeastern U.S. and has a total of approximately 2.4 million
acres of land under management. Acadian owns and manages
approximately 777,000 acres of freehold timberlands in New
Brunswick, approximately 300,000 acres of freehold timberlands in
Maine and provides timber services relating to approximately 1.3
million acres of Crown licensed timberlands in New Brunswick.
Acadian’s products include softwood and hardwood sawlogs, pulpwood
and biomass by-products, sold to approximately 90 regional
customers. Acadian also develops carbon credits for sale in
voluntary carbon credit markets.
Acadian’s business strategy is to maximize cash
flows from its existing timberland assets through sustainable
forest management and other land use activities while growing its
business by acquiring assets and actively managing these assets to
drive improved performance.
Acadian’s shares are listed for trading on the
Toronto Stock Exchange under the symbol ADN.
For further information, please visit our
website at www.acadiantimber.com or contact:
Susan WoodChief Financial OfficerTel:
506-737-2345 Email: ir@acadiantimber.com
Cautionary Statement Regarding
Forward-Looking Information and Statements
This News Release contains forward-looking
information and statements within the meaning of applicable
Canadian securities laws that involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Acadian Timber Corp. and its
subsidiaries (collectively, “Acadian”), or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Forward-looking information is included in this News
Release and includes without limitation statements regarding
anticipated future events, results, achievements, circumstances,
performance or expectations that are not historical facts. All
forward-looking statements in this News Release are qualified by
these cautionary statements. Forward-looking statements involve
significant risks and uncertainties, should not be read as
guarantees of future performance or results, should not be unduly
relied upon, and will not necessarily be accurate indications of
whether or not such results will be achieved. Actual results may
vary.
Other risks and factors are discussed under the
heading “Risk Factors” in the Annual Report dated February 7, 2024,
and in each of the Annual Information Form dated March 24, 2023 and
the Management Information Circular dated March 24, 2023 and other
filings of Acadian made with securities regulatory authorities,
which are available on SEDAR+ at www.sedarplus.ca. Forward-looking
information is based on various material factors or assumptions,
which are based on information currently available to Acadian.
Readers are cautioned that the preceding list of material factors
or assumptions is not exhaustive. Although the forward-looking
statements contained in this News Release are based upon what
management believes are reasonable assumptions, Acadian cannot
assure readers that actual results will be consistent with these
forward-looking statements. The forward-looking statements in this
News Release are made as of the date of this News Release based on
information currently available to management and should not be
relied upon as representing Acadian’s views as of any date
subsequent to the date of this News Release. Acadian assumes no
obligation to update or revise these forward-looking statements to
reflect new information, events, circumstances or otherwise, except
as may be required by applicable law.
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