Vancouver, British Columbia--(Newsfile Corp. - September 4, 2014) -
Jemi Fibre Corp. (TSXV: JFI) ("Jemi Fibre" or the "Company") is pleased to provide an update on its operations following its successful June 2014 acquisitions of WoodEx Industries Ltd.
("WoodEx"), Kootenay Wood Preservers Ltd. ("KWP"), Prairie Holdings Inc. ("Prairie") and approximately 17,700 hectares, and timber rights for an additional approximately 1,900 hectares, of private timberlands.
"We are very pleased with both the progress of integrating the new divisions into the Company and the operations of these new divisions," said Michael Ainsworth, CEO. "During the fiscal year ended April 2014, the Company harvested
approximately 230,000 m3 of timber. For the month of July 2014, approximately 72,000 m3 of timber was harvested from the Company's existing and newly acquired contract logging operations and from its newly acquired private timberland
operations. This represents a significantly higher run rate for the current fiscal year, accounting for annual down time or decreased activity due to weather. We also look forward to providing updates on our WoodEx sawmill and KWP post preserving
plant."
The Company further announces that it has issued 8,333,333 share purchase warrants to Mike Jenks, Chairman of the Company, as previously announced on June 27, 2014. Each warrant entitles Mr. Jenks to purchase one Jemi Fibre common share at a price
of $0.32 per share for a period of one year. In addition, the Company has agreed to borrow an additional $1,000,000 from BG Capital Group Ltd. ("BG Capital") which is being advanced as in increase under the loan from BG Capital
previously announced on June 27, 2014.
ON BEHALF OF THE BOARD OF DIRECTORS
JEMI FIBRE CORP.
"Michael Ainsworth"
______________________
Michael Ainsworth
CEO and President
For further information, please contact:
Brent Lokash, EVP
Tel: 1 604 428-1075
Email: brent.lokash@jemifibre.com
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