Western Forest Products Inc. Announces Results of Annual General and Special Meeting of Shareholders
Press Release
May 7, 2025 – Vancouver, British Columbia – Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announces the following voting results in respect of its Annual General and Special Meeting of Shareholders (the “Meeting”) held today.
Election of Directors
Western’s shareholders voted today to re-elect the following directors to Western’s Board of Directors:
As part of best governance practices, the Company’s Board of Directors has constituted its Board Committees as summarized below. All members of the Board Committees are 100% independent.
Share Consolidation
Western’s shareholders also voted today to approve a special resolution authorizing an amendment to the Company’s articles of amalgamation to effect a share consolidation of the issued and outstanding common shares in the capital of the Company (the “Share Consolidation”) at a share consolidation ratio to be determined by the Board of Directors, in its sole discretion, within the range of one post- consolidation share for every 25 to 40 pre-consolidation shares. The results of the in person and proxy voting on this matter were as follows:
The Board of Directors will monitor prevailing market conditions and will have discretion, for a period of one year, to determine the exact consolidation ratio (in the aforementioned range) and timing to implement the Share Consolidation (if at all). The exact timing of the Share Consolidation, and additional details and instructions for shareholders regarding the Share Consolidation, will be communicated by the Company in a news release and other documentation to be issued at a later date.
The Share Consolidation remains subject to the Company receiving final approval from the Toronto Stock Exchange and all other regulatory requirements.
The Company has also filed a report of voting results on all resolutions voted on at the Meeting on https://www.sedarplus.ca.
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 of 780 million board feet from six sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing 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:
Investor Contact:
Glen Nontell
Chief Financial Officer
(604) 648-4500
IBF4
