Acadian Timber Corp. Announces Election of Directors

EDMUNDSTON, New Brunswick, May 07, 2020 (GLOBE NEWSWIRE) -- Acadian Timber Corp. (TSX:ADN) (“Acadian Timber” or the “Company”) announced that the nominees listed in the management proxy circular for the 2020 Annual and Special Meeting of Shareholders were elected as directors of the Company. Detailed results of the votes by proxy for the election of directors held at the Annual and Special Meeting of Shareholders today in Edmundston are set out below.

NomineeVotes For% ForVotes Withheld% Withheld
Reid Carter11,021,98899.48%57,4980.52%
Malcolm Cockwell10,852,23897.95%227,2482.05%
Heather Fitzpatrick11,009,91399.37%69,5730.63%
Karen Oldfield11,008,35899.36%71,1280.64%
Bruce Robertson11,016,57199.43%62,9150.57%

About Acadian Timber

Acadian Timber Corp. (TSX: ADN) is a leading supplier of primary forest products in Eastern Canada and the Northeastern U.S. With a total of approximately 2.4 million acres of land under management, Acadian is one of the largest timberland operators in New Brunswick and Maine.

Acadian owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine and provides timber services relating to approximately 1.3 million acres of Crown licensed timberlands in New Brunswick. Acadian’s products include softwood and hardwood sawlogs, pulpwood and biomass by-products, sold to approximately 85 regional customers.

Acadian’s business strategy is to maximize cash flows from its existing timberland assets while growing its business by acquiring assets on a value basis and utilizing its operations-oriented approach to drive improved performance.

Acadian’s shares are listed for trading on the Toronto Stock Exchange under the symbol ADN.

For further information, please visit our website at www.acadiantimber.com or contact:
Adam Sheparski
Chief Financial Officer
Tel:       506-737-2345 ext. 2356
Email:   asheparski@acadiantimber.com

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