Doman Building Materials Announces Early Redemption of 6.375% Senior Unsecured Notes

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, May 29, 2023 (GLOBE NEWSWIRE) -- Doman Building Materials Group Ltd. (“Doman” or the “Company”) (TSX:DBM, DBM.NT) announced today that it plans to redeem all of its outstanding Senior Unsecured Notes (the “Notes”). The Notes, which have a maturity date of October 9, 2023, will be redeemed by the Company on or about June 30, 2023 (the “Redemption Date”) in accordance with the terms of the Note trust indenture. The Notes are listed on the Toronto Stock Exchange under the symbol “DBM.NT”.

The aggregate principal amount of Notes outstanding is $60,000,000. On the Redemption Date, the Company will pay the holders of the redeemed Notes a redemption price equal to $1,000 for each $1,000 principal amount of Notes and all accrued and unpaid interest up to but excluding the Redemption Date. The Company will fund the redemption of the Notes from its existing credit facilities.

Formal notice of redemption has been delivered to the Note holders through the Note trustee, BNY Trust Company of Canada, in accordance with the trust indenture. Beneficial holders of the Notes are encouraged to contact their investment dealer if they have any questions about the redemption.

About Doman Building Materials Group Ltd.

Doman is headquartered in Vancouver, British Columbia and trades on the Toronto Stock Exchange under the symbol DBM and is a leading North American distributor of building materials and is Canada's only fully integrated national distributor in the building materials and related products sector. Doman operates several distinct divisions: CanWel Building Materials with multiple treating plant, planing facilities and distribution centres coast-to-coast in all major cities and strategic locations across Canada; founded in 1959, Hixson Lumber Company in the central United States, with 19 treating plants, two specialty planing mills and five specialty sawmills located in eight states, headquartered in Dallas, Texas, distributing, producing and treating lumber, fencing and building materials; California Cascade in the western United States near Portland, Oregon, San Francisco and Los Angeles, California with treating facilities and distribution of building materials, lumber and renovation products; founded in 1935, the Honsador Building Products Group in 14 locations in the State of Hawaii, with treating facilities, truss plants and distribution of a wide range of building materials, lumber, renovation and electrical products. The Company’s operations also include timber ownership and management of private timberlands and forest licenses, and agricultural post-peeling and pressure treating through its fibre division. Please see our filings on SEDAR under Doman Building Materials Group Ltd. (formerly, CanWel Building Materials Group Ltd.) for additional information.