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Interfor chairman plans to sell common stock Toronto Stock Exchange: IFP

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BURNABY, British Columbia, February 15, 2021 (GLOBE NEWSWIRE) – INTERFOR CORPORATION (Interfor or the Company) (TSX: IFP) announced today that Lawrence Sauder, Chairman of the Board of Interfors, has informed the Company of its intention to sell, subject to market conditions, part of its common stock of Interfor within the next 9 months. This transaction is the result of financial and estate planning. Mr. Sauder currently holds 345,274 common shares and 97,271 deferred share units and will continue to exceed his minimum share ownership requirement of three times the current annual amount of the non-executive director after any sale.

Mr. Sauder stressed that he will remain a long-term investor in Interfor and that he continues to have great confidence in the future of the company.

For the same planning reasons, Mr. Sauder has notified Hardwoods Distribution Inc., a publicly traded construction products distributor, of which he is Chairman of the Board of Directors, that he is also selling a portion of his common shares of this society.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking information on the intention of the chairmen to trade the common shares of the company. Readers are cautioned that actual results may differ from the forward-looking information contained in this press release and that such forward-looking information should not be relied on unduly. The risk factors which could cause actual results to differ materially from the forward-looking information contained in this press release are described in Interfors’ annual management report under Risks and Uncertainties, available at www.interfor.com and under the Interfors profile at www .sedar.com. Important factors and assumptions used in developing the forward-looking information contained in this report include the volatility of the Companys share price. Unless otherwise indicated, forward-looking statements in this press release are based on the Company’s expectations as of the date of this press release. Interfor assumes no obligation to update such forward-looking information or statements, except as required by law.

ABOUT INTERFOR

Interfor is a growth-oriented forest products company with operations in Canada and the United States. The company has an annual production capacity of approximately 3.0 billion board feet and offers a diverse line of lumber products to customers around the world. For more information about Interfor, visit our website at www.interfor.com.

Investor contact and additional information:
Mike Mackay, Vice President of Corporate Development and Strategy
(604) 689-6846

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