Conifex completes 72-hour run test at Mackenzie Power Generation Project
April 24, 2015 - Conifex Timber Inc. recently announced that its wholly-owned subsidiary, Conifex Power Limited Partnership ("CP Partnership") has achieved a significant milestone related to its bioenergy project by completing a continuous 72-hour run test at its 36 MW biomass power plant in Mackenzie, B.C.
The successful completion of the run test, which requires formal acknowledgement by BC Hydro, was a critical requirement to achieve the commercial operation date in accordance with the existing Electricity Purchase Agreement (EPA). Upon achieving the commercial operation date, the plant will commence selling electricity under the EPA to BC Hydro.
First quarter 2015 results conference call
As previously announced, Conifex will hold a conference call on Tuesday, May 5, 2015 at 8:00 am Pacific time / 11:00 am Eastern time to discuss the first quarter 2015 financial and operating results. To participate in the call, please dial 416-340-2218 or toll free 866-223-7781. The call will also be available on instant replay access by dialling 905-694-9451 or 800-408-3053 and entering pass code 7754146#.
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, Chinese, Canadian and Japanese markets. Upon commencement of commercial operations at its power generation facility at Mackenzie, British Columbia, Conifex’s business sectors will be expanded to include bioenergy.
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 the Company expects or anticipates may occur in the future. When used in this news release, words such as “requires”, “upon”, “will” and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of the Company’s management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of the Company or 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 statements regarding growth and future prospects of our business, the anticipated benefits, timing and completion date for the power generation project and receipt from BC Hydro of formal acknowledgement of the successful completion of the 72 hour run test. Assumptions underlying the Company’s expectations regarding forward-looking information contained in this news release include, among others: that the Company will be able to effectively sell electricity under the EPA as planned to generate revenues; that BC Hydro will confirm that the run test satisfactorily meets the terms of the EPA required to obtain COD; that there will be no further delays and disruptions affecting the completion of the power generation project and that the Company will be able to commence timely delivery of power therefrom; and that management will effectively execute the Company’s strategy to grow and add value to its business.
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, without limitation: those relating to potential disruptions to production and delivery, including as a result of equipment failures, labour issues, the complex integration of processes and equipment and other factors; labour relations; failure to meet regulatory or contractual requirements; changes in the market; potential downturns in economic conditions; availability and fluctuations in the price and supply of required materials; and other risk factors described in the Company’s 2014 annual information form, 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 the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.