MEDIA RELEASE PR35540
TimberWest Announces Intention to Sell Approximately 46,500 Acres of Select
Timberland Assets on Vancouver Island
VANCOUVER, July 28 /CNW-AsiaNet/ --
TimberWest Forest Corp. ("TimberWest") announced today that it intends to divest up
to four discrete timberland properties located on Vancouver Island in the Province of
British Columbia, Canada. These timberland assets include the Beauforts, China Creek,
Parksville and Trent properties, which comprise a total area of approximately 46,487
acres (or 18,813 hectares) and have a combined timber inventory of over 4.0 million
cubic meters. These four properties represent small, isolated parcels of timberlands,
most of which are not contiguous with TimberWest's core timberland operations in either
the north or the south of Vancouver Island.
BMO Capital Markets has been retained as exclusive financial advisor for
the sale of these timberlands and interested parties should contact them at
(604) 443-1445.
About TimberWest Forest Corp.
TimberWest Forest Corp. is uniquely positioned as western Canada's
largest private timber and land management company. The Company owns in fee
simple approximately 322,000 hectares or 796,000 acres of private land and is
in the business of selling timber products and real estate.
SOURCE: TimberWest Forest Corp.
CONTACT: TimberWest Contact:
Bev Park, Executive Vice President & CFO,
+1 (604) 654-4600;
BMO Capital Markets Contact:
Morten Eisenhardt,
Investment Banking,
+1 (604) 443-1445
(TWF.UN.)
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