VANCOUVER, BC, Aug. 30, 2021 /CNW/ - GreenFirst Forest
Products Inc. (TSXV: GFP) ("GreenFirst" or the
"Company") today filed its unaudited interim financial
statements for the quarter and six months ended June 30, 2021, and the related management
discussion and analysis, both of which are available under
GreenFirst's profile on SEDAR at www.sedar.com. All amounts
are in Canadian dollars unless indicated otherwise.
The Company reported a net loss attributable to common
shareholders of $2.5 million, or
$0.10 loss per share, and a total
comprehensive loss of $2.5 million in
the quarter ended June 30,
2021. This is compared to a net loss attributable to common
shareholders of $0.1 million, or
$0.004 loss per share, and total
comprehensive loss of $0.6 million
(as a result of a $0.5 million
currency translation loss) in the second quarter of 2020. The
increased net loss for the quarter was due to higher professional
fees.
As at June 30, 2021, the Company
reported a consolidated cash balance of $5.1
million and net working capital of $0.7 million.
About GreenFirst
GreenFirst is a forest-first business, focused on
environmentally sustainable forest management and lumber
production. We believe that sustainable forest planting and
harvesting, coupled with the long-term green advantage of lumber,
provide GreenFirst with significant cyclical and secular advantages
in building products. GreenFirst's long-term pursuit is to be a
global leader in environmentally sustainable lumber. For more
information, please visit: www.gffp.ca.
Forward Looking Information
Certain information in this news release constitutes
forward-looking statements under applicable securities laws. Any
statements that are contained in this news release that are not
statements of historical fact are forward-looking statements.
Forward looking statements are often identified by terms such as
"may", "should", "anticipate", "expect", "potential", "believe",
"intend", "estimate" or the negative of these terms and similar
expressions.
Forward-looking statements in this news release include, but are
not limited to, statements regarding: the expected financial
results of the Company; the timing for the expected filing of the
financial results; the details of the proposed offering of Rights;
the expectation of the Rights being listed on the TSXV; and details
with respect to the shares for debt transaction. Forward-looking
statements are based on certain assumptions and, while GreenFirst
considers these assumptions to be reasonable, based on information
currently available, they may prove to be incorrect. In addition,
forward-looking statements necessarily involve known and unknown
risks, including those set out in GreenFirst's public disclosure
record filed under its profile on www.sedar.com. Readers are
further cautioned not to place undue reliance on forward-looking
statements as there can be no assurance that the plans, intentions
or expectations upon which they are placed will occur. Such
information, although considered reasonable by management at the
time of preparation, may prove to be incorrect and actual results
may differ materially from those anticipated. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement and reflect our expectations as of the
date hereof, and thus are subject to change thereafter. GreenFirst
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Neither TSXV nor its Regulation Services Provider (as that
term is defined in policies of the TSXV) accepts responsibility for
the adequacy or accuracy of this news release.
SOURCE GreenFirst Forest Products Inc.