TimberWest Forest Corp.

TimberWest Forest Corp. Announces $150 Million Private Placement and Rights offering Effecting Bank Refinancing

Published in Health Business Week, January 2nd, 2009

TimberWest Forest Corp. (TSX: TWF.UN) ("TimberWest" or the "Company") announced a rights offering (the "Rights Offering") pursuant to which the Company will distribute rights ("Rights") that will entitle existing holders of Stapled Units of the Company ("Unitholders") to purchase up to $50 million aggregate principal amount of 9% extendible convertible debentures of the Company ("Debentures").

The Company also announced that it has entered into an investment agreement (the "Investment Agreement") with two wholly-owned subsidiaries of British Columbia Investment Management Corporation (together, "bcIMC") under which bcIMC has agreed to purchase $100 million principal...

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Source: Health Business Week (2009-01-02)

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