Conifex Announces Leadership Team Promotion

VANCOUVER, British Columbia, May 09, 2023 (GLOBE NEWSWIRE) -- Conifex Timber Inc. ("Conifex") (TSX: CFF) announced today that Andrew McLellan has been promoted to President and Chief Operating Officer.

As President, Andrew will lead Conifex's business units and pursue value-added opportunities in fibre procurement, lumber manufacturing and marketing, green power generation, and other complementary businesses. Andrew retains responsibility for forest sustainability, safety, and environmental compliance, and will continue to report to Ken Shields, Chairman and CEO.

Andrew commented "With the Chief Forester's May 4, 2023, release of a new harvest level and fibre sourcing determination for the Mackenzie Timber Supply Area, the Conifex team looks forward to working on a multi-year plan to optimize the performance and scale of our Mackenzie facilities."

Andrew has over 25 years of experience in various leadership roles within Canada and internationally in a variety of industries including energy, oil and gas, manufacturing, and forestry.

Prior to joining Conifex in 2016, Andrew served as Vice-President and Co-Founder of a successful engineering and project management consulting firm focused on developing clean and renewable energy projects.

Andrew is a Registered Professional Forester and member of the Forest Professionals BC and began his forestry career in Prince George, BC in 1997 with Northwood Pulp and Timber which was later acquired by Canfor Corp. in 1999.

Ken Shields commented "Conifex is becoming recognized as a leader in the forest products sector in northeastern British Columbia, and it continues to be my privilege to help build and work with our team of dedicated professionals, led by Andrew and recently appointed Chief Financial Officer Trevor Pruden."

For further information, please contact:

Kenneth A. Shields
Chairman and Chief Executive Officer
(778) 331-8685

About Conifex Timber Inc.

Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing and distribution. Conifex's lumber products are sold in the United States, Canadian and Japanese markets. Conifex also produces bioenergy at its power generation facility at Mackenzie, BC.

Forward-Looking Statements

Certain statements in this news release may constitute "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that Conifex expects or anticipates may occur in the future. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of Conifex's management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Conifex or the industry may be materially different from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this news release include, but are not limited to, statements regarding the duties of President and Chief Operating Officer and the qualification and experience of the appointee to take on the roles of President and Chief Operating Officer. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, risk factors described in Conifex's annual information from for the year ended December 31, 2022, which is available on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and Conifex undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.