GreenFirst Provides Update on Plan to Spin-Out Kap Corporation

TORONTO -- GreenFirst Forest Products Inc. (TSX: GFP) (“GreenFirst” or the “Company”) wishes to announce that at the special meeting of shareholders held earlier today, shareholders approved the proposed plan of arrangement that will result in the distribution of the outstanding shares of Kap Corporation to the GreenFirst shareholders on the basis of one common share of Kap Corporation for each one hundred common shares of GreenFirst held (the “Spin-out”). Shareholders holding approximately 79% of outstanding shares attended the meeting in person or by proxy. Shareholders holding 98,266,217 common shares, representing 77% of the shares, voted in favour of the Spin-out while shareholders holding 29,031,531 common shares, voted against the resolution. The next step will be obtaining final court approval to the Spin-out which is scheduled for October 1, 2024. Read More