VANCOUVER, BC (News release) -- Canfor Corporation announced the completion of the subdivision and sale of its Forest License in the Mackenzie Timber Supply Area (TSA) equally to the McLeod Lake Indian Band and the Tsay Keh Dene Nation.

"Building on our long-standing relationships, Canfor is pleased to have reached this arrangement that will expand the Nations' participation in the forest economy and stewardship of forest resources in the region," said Stephen Mackie, Executive Vice President North American Operations. "We believe this agreement will support improved fibre access in the TSA and generate significant economic benefits for local and regional communities."

Total proceeds from this tenure sale and the previously announced disposition of associated Mackenzie sawmill assets are $69 million.

Canfor is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy.