Vancouver, British Columbia--(Newsfile Corp. - December 3, 2014) - Jemi Fibre Corp. (TSXV: JFI) ("Jemi Fibre" or the "Company") is pleased to provide a further update on its operations following its June and September 2014 acquisitions of WoodEx Industries Ltd., Kootenay Wood Preservers Ltd., Prairie Holdings Inc. and approximately 49,500 hectares of private timberlands.
The company is pleased to report EBITDA for October 2014 of approximately $2.09 million which includes a loss on the WoodEx sawmill operations. Mike Jenks noted, "We are pleased with the strong results in October as we continue to demonstrate the value created from our acquisitions this year. Our WoodEx sawmill operations commenced full operations in late October and we anticipate positive earnings from this division in the near future."
The Company further announces that it has entered into an investor relations agreement with Transcend Resource Group to provide investor relation services. Transcend will initiate and maintain contact with the financial community, and investors in North America and Europe for the purpose of increasing awareness of the company and its activities.
The agreement with Transcend is for an initial two month term during which Transcend will receive a fee of $5,000 and will be granted 20,000 incentive stock options at an exercise price of $1.00 per share. The stock options will vest immediately and will expire at the end of one year.
The Company has also granted 200,000 options to an employee of the Company. The options are exercisable at $1.00 per share for five years.
The noted option grants are subject to the approval of the TSX Venture Exchange and the termination provisions of the Company's stock option plan.
ON BEHALF OF THE BOARD OF DIRECTORS
JEMI FIBRE CORP.
"Mike Jenks"
______________________
Mike Jenks
CEO
For further information, please contact:
Brent Lokash, President
Tel: 1 604 428-1075
Email: brent.lokash@jemifibre.com
About Jemi Fibre
Jemi Fibre is a British Columbia based forest products company which trades on the TSX Venture Exchange under the symbol JFI. Jemi Fibre's operations consist of a full service contract logging division, with operations in Mackenzie and Cranbrook, a sawmill located in Edgewater producing high value lumber products, a wood preserving facility in Cranbrook and private timberlands located in the Kootenay Region.
Forward Looking Statements
Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding future financings, financial forecasts and the development and operation of Jemi Fibre's business. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management teams of Jemi, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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.
Source: Jemi Fibre Corp.