|By Marketwired .||
|August 23, 2013 05:05 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/23/13 -- INTERNATIONAL FOREST PRODUCTS LIMITED ("Interfor" or the "Company") (TSX:IFP.A) announced today that its controlling shareholder, Sauder Industries Limited ("SIL"), has exercised its right under the Company's Articles to exchange its Class "B" Common Shares, often referred to as the Multiple Voting Shares ("MVS"), for Class "A" Subordinate Voting Shares ("Class "A" Shares") on a share for share basis, without any cash or non-cash consideration.
As a result of the exchange by SIL, all remaining MVS were automatically converted to Class "A" Shares. Interfor now effectively has one class of common shares with a total of 55,862,955 Class "A" Shares outstanding.
Interfor is a growth-oriented lumber company with operations in Canada and the United States. The Company has annual production capacity of more than 2.2 billion board feet and offers one of the most diverse lines of lumber products to customers around the world. For more information about Interfor, visit our website at www.interfor.com.
International Forest Products Limited
John A. Horning
Senior Vice President and Chief Financial Officer