Conifex Increases Its Revolving Line of Credit to $35 Million and Extends Maturity to 2019

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 29, 2016) - Conifex Timber Inc. ("Conifex") (TSX:CFF) is pleased to announce that it has amended its principal asset-backed revolving line of credit with a Canadian chartered bank to increase its borrowing availability to $35 million from $25 million and extend its maturity date to January 29, 2019.

Kenneth A. Shields, Chairman and CEO of Conifex, stated: "We are pleased to successfully extend and increase the amount of our principal credit facility. It provides us with greater flexibility and liquidity for our solid wood business as we strive to enhance value for our stakeholders."

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, Chinese, Canadian and Japanese markets. Conifex has expanded its operations to include bioenergy production following the commencement of commercial operations of its power generation facility at Mackenzie, British Columbia.

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 industry may be materially different from those implied by such forward-looking statements. 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, without limitation: any risk factors described in Conifex's 2014 annual information form, 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.