GreenFirst Forest Products has secured a $30 million term loan under the Government of Canada’s Softwood Lumber Program, strengthening its liquidity position amid continued volatility in the North American lumber market.
The financing, announced on January 21, was arranged with GreenFirst’s banking partner, BMO. The company said the loan is intended to support ongoing operations and provide additional financial flexibility as it manages challenging market conditions marked by weaker demand and pricing pressure.
According to GreenFirst, the term loan enhances its balance sheet and provides additional runway as the company continues to execute its operational and strategic priorities in a difficult industry environment.
The Softwood Lumber Program was introduced by the federal government to support eligible Canadian softwood lumber producers facing adverse market conditions. The initiative is designed to help companies maintain operations and manage short-term liquidity pressures during periods of market disruption.
GreenFirst said the additional financing positions the company to navigate near-term market uncertainty while maintaining focus on longer-term stability.
GreenFirst operates four sawmills in Ontario and focuses on sustainable forest management and lumber production. The company’s operations are tied to publicly managed forestlands that are certified under the Forest Stewardship Council (FSC) system.
Source: GreenFirst
