Conifex Debunks Grounds on which Moratorium on Cryptocurrency Mining Projects was imposed by Government of British Columbia - Seite 2

Conifex currently has two actions against the Province and BC Hydro. Conifex has filed a petition in the Supreme Court of British Columbia seeking judicial review of the Lieutenant Governor In Council of British Columbia’s Order In Council 692/2022 (the moratorium). Conifex has also filed a notice of civil claim against BC Hydro in the Supreme Court of British Columbia seeking an order requiring BC Hydro to supply service to Conifex's proposed HPC projects. The claim also seeks general damages against BC Hydro.

Link to the full White Paper can be found at www.conifex.com/community

For further information, please contact:

Kenneth A. Shields
Chairman and Chief Executive Officer        
[phone] or [e-mail]

About Conifex Timber Inc.

Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing and distribution. Conifex's lumber products are sold in the United States, Canadian and Japanese markets. Conifex also produces bioenergy at its power generation facility at Mackenzie, BC.

Forward-Looking Statements

Certain statements in this news release may constitute “forward-looking statements”. Forward-looking statements are statements that address or discuss activities, events or developments that Conifex expects or anticipates may occur in the future. When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “projects”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of Conifex’s management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Conifex or the industry may be materially different from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this news release include, but are not limited to, statements regarding the impact of the OIC on HPC Projects, including the timing of the pause thereof, the outcome of litigiation and Conifex’s planned HPC business generally. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, risk factors described in Conifex’s annual information from for the year ended December 31, 2022 which is available on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and Conifex undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.