VANCOUVER, British Columbia, July 01, 2025 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) ("Western" or the "Company") announced today that, further to the special resolution approved by the Company's shareholders at the Company's Annual General and Special Meeting held on May 7, 2025, the Board of Directors has determined to implement the consolidation of the Company's common shares on the basis of one (1) post consolidation common share for every 30 pre-consolidation common shares (the "Share Consolidation").
The Company currently has 316,745,557 common shares issued and outstanding and, upon implementation of the Share Consolidation, such common shares would be consolidated on the basis of the aforementioned consolidation ratio. Any fractional Shares resulting from the Share Consolidation will be rounded to the nearest whole number as more particularly described in the Company's Management Information Circular available on www.sedarplus.ca and the Company's website.
The Share Consolidation remains subject to receiving final approval of the Toronto Stock Exchange and fulfilling all other regulatory requirements. The exact timing of the Share Consolidation, and additional details and instructions for shareholders regarding the Share Consolidation, will be communicated by the Company at a later date.
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 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.
Forward-looking Statements
This press release contains statements that may constitute forward-looking statements under the applicable securities laws. Readers are cautioned against placing undue reliance on forward-looking statements. All statements herein, other than statements of historical fact, may be forward-looking statements and can be identified by use of words such as "believes", "expects", "will", "plans", "estimates" and "potential" and similar references to future periods. Forward-looking statements in this press release include, but are not limited to, statements relating to our current intent, belief or expectations with respect to: the Share Consolidation, the approval of the Share Consolidation by the Toronto Stock Exchange and the fulfillment of other regulatory requirements, and the impact of the Share Consolidation on holders of common shares. Although such statements reflect management's current reasonable beliefs, expectations and assumptions, there can be no assurance that forward-looking statements are accurate, and actual results or performance may materially vary. Many factors could cause our actual results or performance to be materially different, including factors referenced under the "Risks and Uncertainties" section of our MD&A in our 2024 Annual Report dated February 13, 2025.
For further information, please contact:
Glen Nontell
Chief Financial Officer
(604) 648-4500
