The Toronto Stock Exchange reports that Greenfirst Forest Products Inc. has completed a plan of arrangement to effect the distribution of all of the common shares of 1000977244 Ontario Inc. (Kap Corp.) held by Greenfirst to its shareholders. According to the TSX, Greenfirst shareholders will receive, in respect of each Greenfirst common share held, one new common share of Greenfirst and 0.1 of a Kap share.

The TSX notes that no fractional Kap shares will be distributed pursuant to the arrangement. Any fractional entitlement to Kap shares will be rounded down to the nearest whole number and such entitlement will be cancelled without payment of any compensation or other consideration. Greenfirst shareholders must return the letter of transmittal together with share certificates representing old shares to Computershare Investor Services Inc. at its principal offices in Toronto in order to receive new shares and Kap shares.

The TSX reports that as a result of the arrangement, the new shares will be listed, in substitution for the old shares, at the open on Nov. 7, 2024. The new shares will trade under the symbol GFP and Cusip No. 39526C 10 6. The terms of the new shares are identical to the old shares. There will be no change to the stock symbol. It is understood that the Kap shares will not be listed on any stock exchange.

The TSX has issued a separate bulletin with information regarding the rights offering by Greenfirst. For more information, see Greenfirst's management information circular dated Aug. 23, 2024, and its news releases dated July 2, 2024, Sept. 19, 2024, Oct. 2, 2024, and Oct. 31, 2024.