GreenFirst hires Alfred Colas as Chief Financial Officer

TORONTO, March 31, 2022 /CNW/ - GreenFirst Forest Products Inc. (TSX: GFP) ("GreenFirst" or the "Company") today announced that Michael Liggett, Chief Financial Officer will be transitioning to an on-going consultative role.  Mr. Alfred Colas will start as Chief Financial Officer of GreenFirst effective April 4, 2022.

The Company and its Board of Directors would like to thank Mr. Liggett for his significant contribution with the Rayonier Advanced Materials Asset Acquisition and his participation in building GreenFirst. The Company commends his commitment in continuing to work with us.

Mr. Liggett noted, "It has been my great privilege to serve as CFO at GreenFirst. I am proud of GreenFirst's growth and financial performance over the past year. The organization is well positioned for long-term success and with the great team of people at GreenFirst I am optimistic about the Company's future."

Mr. Colas is a seasoned finance business executive with extensive experience with publicly listed companies in commodity industries including corporate governance, finance management and M&A integrations.  Mr. Colas was most recently CFO of Excellon Resources Inc. (TSX/NYSE-listed), a silver producer and explorer with Mexican operations.  Prior to 2020, Mr. Colas spent five years as CFO of two private-equity ventures including Potentia, a roof-top solar power producer and Arch Corporation, an asset manager with real estate investments.  From 1997 through 2010 Mr. Colas held progressively senior positions with Barrick Gold (TSX and NYSE-listed) including as an expatriate turning around a large gold operation in Argentina from 2007-2010, followed by executive roles with two smaller TSX-listed mining companies from 2011-2015.  Mr. Colas obtained a BComm from the University of Toronto and holds a CPA and CA, having begun his career as an auditor with PwC.

"We wish to thank Michael Liggett for his active involvement in the business. We respect his decision to stay in B.C. for family matters and appreciate that he will continue to work with us," said Rick Doman CEO, GreenFirst. "We are pleased to have Alfred Colas join GreenFirst as our CFO. Alfred's success and experience as a public company CFO, his financial expertise and his outstanding leadership qualities are a great addition to our executive team."

About GreenFirst 
GreenFirst Forest Products is a forest-first business, focused on sustainable forest management and lumber production. The Company owns 7 sawmills and 1 paper mill across Ontario and Quebec.  GreenFirst is a significant lumber producer in Canada having an annual lumber production capacity of 905MMfbm, with a goal to increase. GreenFirst's mills are located in rich wood baskets proudly operating over 9.2 million hectares of FSC® certified public and private Canadian forestlands (FSC®-C167905). The Company believes that responsible forest practices, coupled with the long-term green advantage of lumber, provide GreenFirst with significant cyclical and secular advantages in building products. GreenFirst's long-term vision is to be a leader in the global forestry industry.

SOURCE GreenFirst Forest Products Inc.

www.greenfirst.ca or contact Investor Relations [phone]