Jemi Fibre Corp. Announces Restatement of Interim Financial Statements and Management Discussion and Analysis

Vancouver, British Columbia--(Newsfile Corp. - April 17, 2015) - Jemi Fibre Corp. (TSXV: JFI) ("Jemi Fibre" or the "Company) announces that is has re-filed its previously-issued unaudited interim consolidated financial statements and management discussion and analysis ("MD&A") for the three-month period ended July 31, 2014 and the three- and six-month periods ended October 31, 2014. The following is a summary of the material revisions to the Company's amended and restated financial statements and MD&A.

The basis of the restatement is that the Company has revised the purchase price allocation method used to record the June 5, 2014 acquisitions ("the Acquisition") of WoodEx Industries ltd., Kootenay Wood Preservers Ltd. ("KWP"), Prairie Holdings Inc. ("Prairie"), a wholly owned interest in Rocky Mountain Fibre through the ownership of Prairie and a controlling interest in Palmer Bar Holdings through the ownership of KWP. The net overall effect at the date of the acquisition is that the Company has derecognized an $11,770,934 loss on business combination, has increased its recorded deferred income tax liabilities by $2,940,120, has decreased capital stock by $750,000 and increased the carrying value of its property and equipment by $13,961,054. This non-cash adjustment has no impact on the net cash flows or cash balances previously reported.

The Company has filed the restated financial statements and MD&A on SEDAR, and all amounts included within those consolidated financial statements and accompanying notes have been adjusted to reflect this restatement.

For further information, please contact:

Brent Lokash, President
Tel: [phone]
Email: [e-mail]

About Jemi Fibre

Jemi Fibre is a British Columbia based forest products company which trades on the TSX Venture Exchange under the symbol JFI. Jemi Fibre's operations consist of a full service contract logging division, with operations in Mackenzie and Cranbrook, a sawmill located in Edgewater producing high value lumber products, a wood preserving facility in Cranbrook and private timberlands located in the Kootenay Region.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.