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TimberWest Forest Corp.
Vancouver, British Columbia, Canada, 18 May 2010 -- TimberWest Forest Corp. (TSX: TWF.UN) announced today the completion of its previously announced bought deal offering of 12,000,000 stapled units at a price of CAD 5.00 per stapled unit for gross proceeds of CAD 60 million. The offering was underwritten by BMO Capital Markets.

The company will use the net proceeds from the offering to reduce indebtedness under its revolving credit facility and for general corporate purposes.

The stapled units were offered by way of a short-form prospectus in all provinces of Canada and on a private placement basis in the United States pursuant to an exemption from the registration requirements under the United States Securities Act of 1933, as amended, provided by Rule 144A thereunder. 

TimberWest Forest Corp. is western Canada’s largest private timber and land management company. The company owns in fee simple approximately 320,000 hectares (791,000 acres) of private land and is in the business of selling timber products and real estate.


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