Western completes sale of ownership interest in TFL 44 to Huu-ay-aht

Huumiis Ventures Limited Partnership (“HVLP”), a limited partnership beneficially owned by the Huu-ay-aht First Nations (“Huu-ay-aht”), and Western Forest Products Inc. (TSX: WEF) (“Western”) announced today the completion of HVLP’s acquisition from Western of a 7% interest in the newly formed TFL 44 Limited Partnership.

“The transaction is a positive step for Western, for Huu-ay-aht and for the Alberni Valley,” said Don Demens, Western’s President and CEO. “This new partnership will directly increase First Nations participation in the forestry sector, while creating greater stability for our business, our customers, and our employees.”

A community celebration and official signing ceremony was held on Huu-ay-aht traditional territory in Anacla to mark the milestone. Both parties signed papers representing their commitment to the new partnership and sealed them with a traditional Huu-ay-aht cedar bark wax seal. 

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