Conifex Timber Inc. (CFF:CA) Q4 2025 Earnings Call Transcript

Operator

Thank you for standing by. This is the conference operator. Welcome to the Conifex Timber Inc. Fourth Quarter 2025 Results Conference Call. [Operator Instructions]. And the conference is being recorded.

[Operator Instructions]. I would now like to turn the conference over to Ken Shields, CEO. Please go ahead.

Kenneth Shields
Chairman & CEO

Yes. Well, thank you, and good morning, everyone, and welcome to this call covering our Q4 and full year 2025 results. I’m Ken Shields, the Chairman and CEO of our company. And I’m joined today by our CFO, Trevor Pruden; and our President, Andrew McLellan.

Let’s quickly deal with the housekeeping item. We will be making forward-looking statements and references to non-IFRS measures, and therefore, I call your attention to the warning statements set out on Pages 1 and 2 of our management discussion and analysis document dated March 21, 2025 that we released this morning.

In our MD&A, we described the support Pender fund provided us late last year and early this year as well as the support the Business Development Bank of Canada more recently provided us. Their combined support enabled us to overcome liquidity challenges following punishing duty and tariff in positions on lumber exports to the U.S. last fall.

On our call this morning, we wish to provide you some background on an international Financial Reporting Standards or IFRS accounting protocol that resulted in our long-term debt being temporarily reclassified as short-term debt as of December 31, 2025. The reclassification is expected to be reversed when we release our Q1 results.

As a matter of interest, if we call a U.S. GAAP accounting rules, there would