Conifex Announces Third Quarter Results

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VANCOUVER, BRITISH COLUMBIA - Conifex Timber Inc. ("Conifex", "we" or "us") (TSX:CFF) today reported results for the third quarter ended September 30, 2016.

Adjusted EBITDA* in the third quarter of 2016 was $8.5 million, compared to a record $9.0 million in the second quarter of 2016 and $1.5 million in the third quarter of 2015. Compared to the previous quarter, an improvement in lumber segment adjusted EBITDA of $0.3 million and a reduction in corporate and other costs was offset by bioenergy segment adjusted EBITDA that was lower by $1.3 million. Compared to the third quarter of 2015, lumber segment adjusted EBITDA improved by $9.4 million while bioenergy adjusted EBITDA was lower by $0.7 million.

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Source: Conifex Timber