Jemi Fibre Corp. Completes Acquisition of Kispiox Forest License and Secures Additional Fibre Supply in Saskatchewan

VANCOUVER, BC / ACCESSWIRE / June 30, 2015 / Jemi Fibre Corp. (TSXV: JFI) (“Jemi Fibre” or the “Company”) is pleased to announce that it has completed the acquisition of Forest License A16832 (the “License”) as previously announced on March 3, 2015.

The License is located in the Kispiox Forest District in the vicinity of Hazelton, British Columbia and the acquisition was completed through an equal joint venture partnership with a British Columbia based, forestry company. The replaceable License has an annual allowable cut of 55,414 cubic meters plus a current undercut of 180,663 cubic metres. The Company anticipates commencing harvesting operations on the License area in the fall of 2015 and in connection with those operations, the Company will commence harvesting 4,000 acres of private timberland it owns in the Hazelton area. These private timberlands were acquired by the Company in connection with its reverse take-over of Dual Enterprises Ltd. in June 2013. 

The Company is also pleased to announce that it has entered into a five year agreement with the Northern Village of Beauval, located in northern Saskatchewan, to lease and operate a timber post peeling operation and to manage a Crown timber allocation providing for an annual harvest of 40,000 cubic metres. The timber supply for this facility will be maintained through co-operation with Carrier Forest Products, the North West Communities timber allocation, as well as the Company’s Crown timber allocation connected to its Aallcann operations. The Company and the North West Communities intend for this arrangement to provide the seven local communities with long-term, sustainable forestry job opportunities.

“We are pleased to increase our harvesting capacity and fibre supply with these transactions,” stated Mike Jenks, Chairman & CEO. “The Kispiox acquisition will enhance our ability to extract value from our own private timberlands in Hazelton and the Beauval agreement lines up our strategy of increasing production from our newly acquired Aallcann wood treatment facility in Saskatchewan.”

With these transactions, the Company expects to harvest over 1,450,000 cubic metres of timber on an annual basis, up 630% from the Company’s harvesting capacity prior to its acquisitions in June 2014.

For further information, please contact:

Brent Lokash, President
Tel: 1 604 428-1075
Email: brent.lokash@jemifibre.com

About Jemi Fibre
Jemi Fibre is a Western Canadian based forest products company which trades on the TSX Venture Exchange under the symbol JFI. Jemi Fibre’s operations consist of private timberlands and Crown forest licenses, a full service contract logging division, a sawmill producing high value lumber products and wood treatment facilities producing posts and lumber for agricultural use.

Forward Looking Statements
Certain statements included herein constitute forward-looking statements. The words “expect”, “intend”, “anticipate”, “propose” and “may” and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, such risks, uncertainties and other factors set forth under “Risk Factors” in the Company’s current MD&A filed with the British Columbia Securities Commission. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management teams of Jemi, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Jemi Fibre Corp.  

ReleaseID: 430267