Doman Announces Completion of 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, June 30, 2023 (GLOBE NEWSWIRE) -- Doman Building Materials Group Ltd. (“Doman” or the “Company”) (TSX:DBM, DBM.NT) is pleased to announce today that it has completed the early redemption of all $60,000,000 of its outstanding 6.375% Senior Unsecured Notes due October 9, 2023 (the “Notes”). The Notes were redeemed at a redemption amount equal to $1,014.32 for each $1,000 principal amount of Notes, being equal to the aggregate of (i) $1,000 principal amount of Notes, and (ii) $14.32 of accrued and unpaid interest up to but excluding June 30, 2023.

“Doman’s continuing fiscal responsibility along with our growth strategy will bode well for the future. The early retirement of our Notes will strengthen our balance sheet and provide fiscal options for the Company in these times of macroeconomic change. We will continue to be financially prudent as we move forward with our strategic plans,” commented Amar Doman, Doman Chairman and CEO.

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.