Western Forest Products Completes Sale of Ownership Interest in Newly Formed Mid-Island Partnership

VANCOUVER, British Columbia, March 28, 2024 (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”) announced today the completion of the previously announced agreement for the Nations to acquire a 34% interest from Western in a newly formed Limited Partnership (the “Partnership”) for $35.9 million (the “Transaction”). The parties also announced the new name for the Partnership, which will be known as La-kwa sa muqw Forestry (pronounced la-KWAH-sa-mook) going forward. The name means ‘the wood of four’ in the Kwak’wala language.

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