Landmark Forestry Agreement will Support Increased First Nations Participation in a Stronger Vancouver Island Economy and Vision For the Future

VICTORIA, British Columbia, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The Tlowitsis, We Wai Kai, Wei Wai Kum and K’ómoks First Nations (the “Nations,” all member First Nations of the Nanwakolas Council), and Western Forest Products Inc. (TSX: WEF) (“Western”) have reached an agreement for the Nations to acquire a 34% interest from Western in a newly formed Limited Partnership (the “Partnership”) for $35.9 million (the “Agreement”). The Province of British Columbia helped to facilitate the Partnership through Incremental Treaty Agreements with the Nations, all of whom are in Stage 5 of the British Columbia Treaty Process.

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