Mr. Brian Cairo reports

WESTERN FOREST PRODUCTS ANNOUNCES UPSIZE TO BOUGHT SECONDARY OFFERING BY BROOKFIELD SPECIAL SITUATIONS TO $200 MILLION OF COMMON SHARES

Western Forest Products Inc. and Brookfield Special Situations Management Ltd. have upsized the previously announced bought deal secondary offering to 80 million common shares to be issued at a price of $2.50 per common share, for gross proceeds of $200-million. The underwriters have been granted an overallotment option, exercisable for a period of 30 days from the closing of the offering, to purchase 12 million additional common shares at a price of $2.50 per option share under the same terms. The underwriters subsequently exercised the overallotment option.

Brookfield currently holds 113,960,052 common shares, representing 29 per cent of the issued and outstanding common shares of the company. Concurrently with the offering, CIBC World Markets Inc. and Scotiabank, on behalf of a syndicate of underwriters, acquired Brookfield's remaining interest in Western for immediate resale through the facilities of a Canadian exchange. Following the offering, the sale of the option shares and the concurrent offering, Brookfield will no longer hold any common shares of the company.

The offered shares will be offered by way of a short-form prospectus, to be filed by no later than Aug. 26, 2014, in all of the provinces of Canada pursuant to National Instrument 44-101 short-form prospectus distributions and in the United States pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended. Closing of the offering is expected to occur on or before Sept. 10, 2014, and is subject to certain conditions, including the approval of the Toronto Stock Exchange and the Canadian securities regulatory authorities.

We seek Safe Harbor.