Interfor Appoints Nicolle Butcher to its Board of Directors

BURNABY, British Columbia, May 19, 2023 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION ("Interfor" or the "Company") (TSX: IFP) is pleased to announce the appointment of Nicolle Butcher of Toronto, Ontario as an independent director of the Company, effective May 19, 2023. Ms. Butcher is the Chief Operating Officer of Ontario Power Generation (OPG), where she has held a wide range of roles with increasing responsibility over the past 22 years. She has served as Chair of the Board of both Eagle Creek Renewable Energy (OPG's US hydro subsidiary) and Atura Power (OPG's fleet of combined cycle gas plants) and as a member of the MaRS-Advanced Energy Centre Advisory Board of Directors. In 2021, Ms. Butcher was named one of Canada's Top 100 Most Powerful Women and named Women of the Year by WIRE (Women in Renewable Energy) and APPRO (Association of Power Producers of Ontario). She holds an MBA from McGill University, is a Chartered Business Valuator, and has earned an ICD.D designation from the Institute of Corporate Directors.

Ms. Butcher's appointment is a successful outcome of the Board's ongoing director succession process. Her appointment increases the number of Interfor directors to 11 and the percentage of women directors to 27%. The Company is well on track to achieve its target of at least 30% women on its Board by its next annual general meeting of shareholders in 2024.

FORWARD-LOOKING STATEMENTS

This release contains forward-looking information about the Company's director succession process. A statement contains forward-looking information when the Company uses what it knows and expects today, to make a statement about the future. Readers are cautioned that actual results may vary from the forward-looking information in this release, and undue reliance should not be placed on such forward-looking information. Risk factors that could cause actual results to differ materially from the forward-looking information in this release are described in Interfor's annual Management's Discussion & Analysis under the heading "Risks and Uncertainties", which is available on www.interfor.com and under Interfor's profile on www.sedar.com. Unless otherwise indicated, the forward-looking statements in this release are based on the Company's expectations at the date of this release. Interfor undertakes no obligation to update such forward-looking information or statements, except as required by law.

ABOUT INTERFOR

Interfor is a growth-oriented forest products company with operations in Canada and the United States. The Company has annual lumber production capacity of approximately 5.2 billion board feet and offers a diverse line of lumber products to customers around the world. For more information about Interfor, visit our website at www.interfor.com.

Investor Contacts:

Rick Pozzebon, Executive Vice President & Chief Financial Officer
(604) 689-6804

Mike Mackay, Vice President, Corporate Development & Treasury
(604) 689-6846

Media Contact:

Svetlana Kayumova, Senior Manager, Corporate Affairs & Communications
(604) 422-7329
[email protected]