Western Forest Products Enters Into Letter of Intent With Capital Regional District

Western Forest Products Inc. has announced that it has entered in a non-binding letter of intent with the Capital Regional District of Victoria, British Columbia for the sale of certain properties at the purchase price of $18.8 million dollars.

These properties, located in the southern portion of Vancouver Island, cover approximately 2,350 hectares, and include the Jordan River, Sooke Potholes and Weeks Lake areas.

While the parties are currently negotiating the terms of a definitive and binding purchase and sale agreement, matters are at an early stage and there is no assurance that the transaction will be completed.

Source: Western Forest Products