Les Chantiers Chibougamau Ltée entered into a definitive agreement to acquire La Sarre, Béarn Sawmills, Abitibi and Témiscamingue Forestry Operations from GreenFirst Forest Products Inc. (TSX:GFP) for CAD 90 million on December 21, 2022. The consideration is subject to customary closing condition. Quebec-based employees are expected to continue to be employed by Chantiers Chibougamau post-closing. The sale has been unanimously approved by GreenFirst's Board of Directors and is subject to customary closing conditions, including receipt of applicable regulatory approvals and Competition Act approval. The sale of the Quebec Assets is expected to close in Q1 2023. GreenFirst expects to use the net proceeds from the sale to strengthen its balance sheet and continue investing in its Ontario operations.

Les Chantiers Chibougamau Ltée completed the acquisition of La Sarre, Béarn Sawmills, Abitibi and Témiscamingue Forestry Operations from GreenFirst Forest Products Inc. (TSX:GFP) for CAD 94 million on March 14, 2023. The Company received approval for all customary closing conditions, including receipt of applicable regulatory approvals and Competition Act approval.