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CONIFEX NEWS RELEASE : via MARKETWIRE CONIFEX TIMBER INC . FOR IMMEDIATE RELEASE Conifex Announces Third Quarter 2021 Results November 9 , 2021 , Vancouver , B.C. - Conifex Timber Inc. ( " Conifex ” , “ we ” or “ us ” ) ( TSX : CFF ) today reported results for the third quarter ended September 30 , 2021. EBITDA * from continuing operations was positive $ 3.3 million compared to EBITDA of $ 7.6 million in the third quarter of 2020. Net loss was $ 0.9 million or $ 0.02 per share in the quarter versus earnings in the year - earlier quarter of $ 0.04 per share . Selected Financial Highlights The following table summarizes our selected financial information for the comparative periods . Unless otherwise noted , financial information reflects results of continuing operations from our Mackenzie sawmill and power plant . ( unaudited , in millions of dollars , except earnings per share and share information ) Q3 Q2 YTD Q3 YTD 2021 2021 2021 2020 2020 Sales Lumber Conifex produced 25.9 80.1 145.9 30.7 56.3 Lumber - wholesale 12.5 9.0 22.1 0.5 By - products Bioenergy 2.1 2.7 7.2 0.4 54 1.7 2.3 7.1 4.7 15.5 6.0 18.7 47.6 96.5 190.7 37.6 79.0 Operating income ( loss ) ( 0.7 ) 33.5 41.4 7.0 ( 1.2 ) EBITDA from continuing operations ( 2 ) 3.3 37.8 50.7 7.6 7.0 Net income ( loss ) from continuing operations ( 0.9 ) 26.1 29.7 2.0 ( 8.9 ) Net income ( loss ) from discontinued operations 0.2 Net income ( loss ) ( 0.9 ) 26.1 29.7 2.0 ( 8.8 ) Basic and diluted earnings ( loss ) per share Continuing operations ( 0.02 ) 0.56 0.65 0.04 ( 0.19 ) Discontinued operations Total basic and diluted earnings ( loss ) per ( 0.02 ) 0.56 0.65 0.04 ( 0.19 ) share Shares outstanding – weighted average ( millions ) 44.6 46.0 45.7 47.0 47.0 Reconciliation of EBITDA to net income ( loss ) Net income ( loss ) from continuing operations Add : Finance costs Amortization Income tax expense ( recovery ) EBITDA from continuing operations ( 2 ) ( 0.9 ) 26.1 29.7 2.0 ( 8.9 ) 1.1 1.1 3.4 1.2 5.9 3.4 2.1 7.6 2.9 6.9 ( 0.3 ) 8.5 10.0 1.5 ( 1.0 ) 3.3 37.8 50.7 7.6 2.9 Conifex's EBITDA calculation represents earnings before finance costs , taxes , depreciation and amortization . We disclose EBITDA as it is a measure used by analysts and by our management to evaluate our performance . As EBITDA is a non - GAAP measure that does not have any standardized meaning prescribed by International Financial Reporting Standards , it may not be comparable to EBITDA calculated by others and is not a substitute for net earnings or cash flows , and therefore readers should consider those measures in evaluating our performance .