Western Forest Products and Tla’amin Nation Complete Sale of Stillwater Forest Operation

(TSX:WEF) Western Forest Products Inc. and Qwoqwnes Forestry Holdings Limited Partnership, owned and controlled by Tla’amin Nation, announced the completion of an agreement under which Qwoqwnes has acquired a 100% ownership interest in the assets comprising Western’s Stillwater Forest Operation near Powell River, British Columbia, for aggregate proceeds of approximately $80.0 million after adjustments. The Stillwater Forest Operation includes Tree Farm Licence 39 (TFL 39), formerly known as Block 1, which covers approximately 154,000 hectares of forest land, with the majority located in the traditional territory of Tla’amin Nation. Qwoqwnes, through Thichum Forest Products, will manage an allowable annual cut of 469,200 cubic metres of timber from TFL 39. In connection with the transaction, Qwoqwnes and Western have entered into a long-term fibre supply agreement for timber harvested from TFL 39 to be sold to Western, supporting Western’s BC coastal manufacturing operations. Adam Culos, Vice President, Forestry and Forest Sustainability of Thichum Forest Products, stated that the transaction allows management of the lands in a way that reflects Tla’amin values and long-term stewardship, while building local employment and business opportunities. Steven Hofer, President and CEO of Western, stated that the transaction adds certainty and stability to Western’s business through long-term fibre supply and supports the company’s focus on transitioning to higher-value product manufacturing. Qwoqwnes Forestry Holdings Limited Partnership is owned by the Tla’amin Nation, a self-governing modern treaty nation with significant land holdings in the qathet region. The Tla’amin Treaty with Canada and British Columbia came into force in 2016. Western Forest Products Inc. is an integrated forest products company with operations and employees primarily on the coast of British Columbia and Washington State. Western has a lumber capacity of 785 million board feet from five sawmills, operates four remanufacturing facilities and two glulam manufacturing facilities, and sources timber from long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing specialty products to worldwide markets.

Western Forest Products Inc. Announces Release Date of Second Quarter 2026 Results and Conference Call Details

(TSX: WEF) Western Forest Products Inc. announced that its second quarter 2026 financial and operating results will be released on Wednesday, August 12, 2026. The company will host its second quarter 2026 analyst conference call on Thursday, August 13, 2026 at 9:00 a.m. PDT (12:00 p.m. EDT). Western has a lumber capacity of 785 million board feet from five sawmills. The company also operates four remanufacturing facilities and two glulam manufacturing facilities. The instant replay of the call will be available until September 13, 2026 at 8:59 p.m. PDT (11:59 p.m. EDT). Western sources timber from its long-term licenses, First Nations arrangements, and market purchases. The company supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.

Western Announces First Quarter 2026 Results

Western Forest Products Inc. (TSX: WEF) reported an Adjusted EBITDA of negative $13.6 million in the first quarter of 2026, compared to $3.5 million in Q1 2025 and negative $6.2 million in Q4 2025. The company recorded a net loss of $19.9 million in Q1 2026, versus net income of $13.8 million in Q1 2025. Revenue for Q1 2026 was $201.5 million, down from $262.5 million in Q1 2025. Western reached an agreement to sell its Stillwater Forest Operation for $80.0 million and finalized a property insurance claim for USD$28.8 million ($40.1 million) related to the Columbia Vista Division sawmill fire. The company anticipates capital expenditure spending between $45 and $50 million in 2026.