06:02 AM EDT, 09/10/2024 (MT Newswires) -- Canfor ( CFPZF ) , a lumber and wood producer, late on Monday said it has completed the sale of its forest license in the Mackenzie Timber Supply Area to the McLeod Lake Indian Band and the Tsay Keh Dene Nation.

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

"We believe this agreement will support improved fibre access in the TSA and generate significant economic benefits for local and regional communities," said Stephen Mackie, executive vice president of North American operations at Canfor ( CFPZF ).

The company's share price edged 0.5% higher to $14.08 yesterday.