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TimberWest Forest Acquisition Plan Approved by Canadian Court
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Vancouver, British Columbia, Canada, 17 June 2011 -- TimberWest Forest Corp. (TSX: TWF.UN)  announced today that the British Columbia Supreme Court has issued a final order approving the statutory plan of arrangement under which British Columbia Investment Management Corporation and the Public Sector Pension Investment Board will indirectly acquire all of TimberWest’s outstanding stapled units at a price of CAD 6.16 in cash per stapled unit.

The transaction was approved by approximately 98% of the votes cast by TimberWest unit holders and option holders at an annual general and special meeting held on 14 June 2011. Subject to receipt of Competition Act approval and the satisfaction or waiver of the other conditions to closing, the transaction is expected to close before the end of June 2011, following which the stapled units of TimberWest will be delisted from the Toronto Stock Exchange.

TimberWest is uniquely positioned as western Canada’s largest private timber and land management company. The company owns in fee simple approximately 327,000 hectares or 808,000 acres of private land and is in the business of selling timber products and real estate.


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