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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of______April 6, 2005.
Commission File Number 033-74656-99
WESTERN FOREST PRODUCTS INC.
- --------------------------------------------------------------------------------
(Translation of registrant's name into English)
3rd Floor, 435 Trunk Road, Duncan, British Columbia Canada V9L 2P9
- --------------------------------------------------------------------------------
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):______
NOTE: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a
Form 6-K if submitted solely to provide an attached annual report to security
holders.
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7):______
NOTE: Regulation S-T Rule 10l(b)(7) only permits the submission in paper of a
Form 6-K if submitted to furnish a report or other document that the registrant
foreign private issuer must furnish and make public under the laws of the
jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a
material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-___________________.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
WESTERN FOREST PRODUCTS INC.
----------------------------
(Registrant)
Date as of April 6, 2005
- ------------------------ By /s/ Paul Ireland
----------------------------
(Signature)*
Paul Ireland
Chief Financial Officer
- -----------
* Print the name and title under the signature of the signing officer
PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS
FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB
CONTROL NUMBER
SEC 1815 (11-02)
(WESTERN FOREST LOGO)
WESTERN FOREST PRODUCTS INC.
435 Trunk Road
Duncan, British Columbia
Canada V9L 2P9
Telephone: 250 748 3711
Facsimile: 250 748 6045
WESTERN FOREST PRODUCTS INC.
FOR IMMEDIATE RELEASE TSX: WEF
WESTERN ANNOUNCES CREATION OF A WORKING CAPITAL RESERVE
April 6, 2005 - Duncan, British Columbia. Western Forest Products Inc.
("Western" or the "Company") announced today that it has established a Working
Capital Reserve in the amount of $50 million under the terms of its Secured
Bonds of which approximately $33 million should be funded by April 8, 2005.
The provision for a Working Capital Reserve is to ensure that funds received
from non-core asset sales can be utilised, if necessary, to support the
Company's current operating requirements.
Reynold Hert, President and CEO noted, "This is a prudent move considering the
uncertainty of exchange rates and market prices. Establishing the reserve
provides for liquidity if required."
Funds being placed in the Working Capital Reserve should amount to $33 million
including the Bill 28 Take Back proceeds of $16.5 million, $4.8 million from
smaller land sales and the approximately $12 million expected on April 8 from
the closing of the sale of the original Silvertree mill site in Vancouver.
About Western:
Western is an integrated Canadian forest products company and the second largest
coastal woodland operator in British Columbia. Principal activities conducted by
Western and its subsidiaries include timber harvesting, reforestation,
sawmilling logs into lumber and wood chips, value-added remanufacturing and
producing NBSK pulp. Over 95% of Western's logging is conducted on government
owned timberlands in British Columbia. All of Western's operations, employees
and corporate facilities are located in the coastal region of British Columbia
and its products are sold in 30 countries worldwide.
Forward Looking Statement
This press release contains statements that are forward-looking in nature. Those
statements appear in a number of places herein and include statements regarding
the intent, belief or current expectations of Western, primarily with respect to
market and general economic conditions, future costs, expenditures, available
harvest levels and future operating performance of Western. Such statements may
be indicated by words such as "estimate", "expect", "intend", "believes" and
similar words and phrases. Readers are cautioned that any such forward-looking
statements are not guarantees and may involve known and unknown risks and
uncertainties, and that actual results may differ from those expressed or
implied in the forward-looking statements as a result of various factors,
including general economic and business conditions, product selling prices, raw
material and operating costs, changes in foreign-currency exchange rates,
changes in government regulation, fluctuations in demand and supply for
Western's products, industry production levels, the ability of Western to
execute its business plan and misjudgements in the course of preparing
forward-looking statements. The information contained under the "Risk Factors"
section of Western's Annual Information Form identifies important factors that
could cause such differences. All written and oral forward-looking statements
attributable to Western or persons acting on behalf of Western are expressly
qualified in their entirety by the foregoing cautionary statements. Western does
not expect to update forward-looking statements as conditions change.
FOR FURTHER INFORMATION CONTACT: REYNOLD HERT 250 715 2207
PAUL IRELAND 250 715 2209
(COMPUTERSHARE LOGO) Computershare Trust Company of Canada
510 Burrard Street, 3rd floor
Vancouver, BC V6C 3B9
Tel: 604.661.9400
Fax: 604.661.9401
April 14, 2005
Dear Sirs: All applicable Exchanges and Commissions
CDS & Co.
Subject: WESTERN FOREST PRODUCTS INC.
We advise the following with respect to the upcoming Meeting of Shareholders for
the subject Corporation:
1. Meeting Type : Annual General Meeting
2. CUSIP/Class of Security entitled to receive notification
1. 958211104/CA9582111048/COMMON (RESTRICTED)
2. 958211203/CA9582112038/COMMON
3. CUSIP/Class of Security entitled to vote :
1. 958211104/CA9582111048/COMMON (RESTRICTED)
2. 958211203/CA9582112038/COMMON
4. Record Date for Notice : 12/05/2005
5. Record date for Voting : 12/05/2005
6. Beneficial Ownership determination date : 12/05/2005
7. Meeting Date : 15/06/2005
8. Meeting Location : Vancouver
Regards,
Jeremy Ohlback
Stock transfer Department
Tel: 604.661.9400 Ext 4097
Fax: 604.661.9401