Canfor Corporation, under the symbol CFP on the Toronto Stock Exchange, entered into a Letter of Intent with the McLeod Lake Indian Band and Tsay Keh Dene Nation to sell its forest tenure in British Columbia's Mackenzie region. Additionally, Canfor arranged a separate deal to sell its Mackenzie site, plant, and equipment to Peak Renewables. The total value of these agreements amounted to $70 million.

The parties plan to finalize a definitive agreement for the forest tenure sale, which requires the approval of the BC Minister of Forests, Lands, Natural Resource Operations, and Rural Development. Canfor's CEO, Don Kayne, expressed pleasure in the sale's potential to empower the McLeod Lake Indian Band and Tsay Keh Dene Nation in the forestry economy and enhance their community stewardship.

Chief Pierre of the Tsay Keh Dene Nation acknowledged the transaction as a corrective measure against the long-standing marginalization of First Nations in the forest sector. This agreement, he noted, would rebalance the Mackenzie Timber Supply Area and pave the way for shared forest tenure.

Chief Chingee of the McLeod Lake Indian Band viewed the acquisition as a significant step towards economic stability and environmental stewardship, in line with their ancestral traditions.

This agreement, fostering collaboration between Canfor and the Nations, aims to enhance their control over resource development in their territories. It aligns with BC's reconciliation efforts and the government's intentions for resource management.