Conifex Timber (TSE:CFF) has released an update.
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Conifex Timber Inc. has updated its credit agreement with PenderFund Capital Management, increasing its secured term loan to $41 million, which will help support a transition to a two-shift operation at their sawmill. This move is in response to rising lumber prices and is expected to improve cash flow by spreading fixed costs and boosting sales. PenderFund will receive warrants and a board appointment in exchange for its financial support.
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