Western Forest Products Inc. Announces Automatic Share Purchase Plan Pursuant to its Normal Course Issuer Bid

Press Release

March 26, 2019 – Vancouver, British Columbia – Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announced today that in connection with its normal course issuer bid that was previously announced on August 3, 2018 (the “Bid”), it has entered into an automatic share purchase plan (the “Plan”) with its designated broker to facilitate purchases of its common shares under the Bid from April 1, 2019 to the end of May 6, 2019. The Plan allows Western to purchase common shares at times when it would ordinarily not be permitted to purchase its common shares due to regulatory restrictions or self-imposed blackout periods.

Pursuant to the Plan, before entering a blackout period, Western may, but is not required to, instruct its broker to make purchases under the Bid in accordance with the terms of the Plan. Such purchases would be made by the Company’s broker based on parameters established in accordance with the rules of the Toronto Stock Exchange (the “TSX”), applicable securities law and the terms of the Plan.

Outside of restricted or self-imposed blackout periods, common shares may be purchased under the Bid at the discretion of Western in accordance with TSX rules and applicable securities law. Any repurchases made under the Plan count towards the number of common shares purchased under the Bid. The Bid came into effect on August 8, 2018 and is scheduled to terminate on August 7, 2019.

About Western Forest Products Inc.

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity in excess of 1.1 billion board feet from eight sawmills and four remanufacturing facilities. The Company sources timber from its private lands, long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.

 

For further information, please contact:

Stephen Williams,
Executive Vice President & Chief Financial Officer
(604) 648-4500

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