Jemi Fibre Corp. Announces Shareholder Approval of Plan of Arrangement with CanWel Building Materials Group Ltd.

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2016) - Jemi Fibre Corp. (TSXV: JFI) ("Jemi Fibre" or the "Corporation") is pleased to announce that it has received overwhelming shareholder approval at the special meeting of Jemi Fibre shareholders held earlier today (the "Meeting") to consider the previously announced business combination with CanWel Building Materials Group Ltd. ("CanWel"). The business combination, which is to be completed by way of a court-approved plan of arrangement (the "Arrangement"), was approved by 98% of the 53,160,580 votes cast by shareholders of the Corporation present in person, or represented by proxy, at the Meeting, which votes represented 68% of the outstanding common shares of the Corporation. For additional information in respect of the Arrangement, please see the joint press release of Jemi Fibre and CanWel dated March 9, 2016 and the press release of Jemi Fibre dated April 12, 2016 which are available on SEDAR at www.sedar.com.

The Corporation will seek the final order of the British Columbia Supreme Court authorizing the completion of the Arrangement on May 12, 2016. The Arrangement is anticipated to become effective on May 13, 2016, subject to obtaining the final order of the British Columbia Supreme Court and satisfaction or waiver of all other closing conditions.

For further information regarding Jemi Fibre please contact:

Brent Lokash, President
Tel: 1-604-428-1075 Ext: 200
Email: brent.lokash@jemifibre.com

About Jemi Fibre

Jemi Fibre is a Western Canadian based forest products company which trades on the TSX Venture Exchange under the symbol JFI. Jemi Fibre's operations consist of timber ownership and management of private timberlands and Crown forest licenses, full service logging and trucking operations, post-peeling and wood treatment operations for the agricultural market and specialty lumber manufacturing. The Company's head office and principal place of business is located at 1110-1111 West Georgia Street, Vancouver, British Columbia, Canada.

Cautionary Statements Regarding Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws, including statements regarding the Arrangement. The following statements are or may constitute forward-looking statements: statements proceeded by, followed by, or that included words like "may", "will", "would", "should", "expect", "believe", "plan", "intend", "anticipate", "predict", "remain", "anticipate", "estimate", "potential", "continue", "plan", "could", "might", "project", "targeting", "future" and other similar terminology, and other statements regarding matters that are not historical facts. The matters addressed in these statements are subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the potential inability to obtain court or other approvals required in connection with the Arrangement, or to satisfy other conditions to the Arrangement on the expected terms and schedule and the risk that CanWel cannot obtain new senior loans on terms conditions acceptable to CanWel or in a timely manner. These and other factors could cause or contribute to actual results differing materially from those contemplated by forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release. Jemi Fibre does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.