Investor Presentaiton
Balance Sheet and Liquidity Update
Net debt at the end of Q1-20 was $137 million
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Net debt to capitalization ratio was 23%
Available liquidity of $113.5 million at the end of Q1-20
$250 million credit facility
WFP
Includes an accordion feature which allows Western to increase the aggregate
amount available to $350 million, subject to lender approval
Matures in August 2022
Additional sources of potential liquidity
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TFL 44 LP sale to the Huu-ay-aht First Nations (proceeds of $36.2 million); closing
anticipated in Q3-20
Accelerating receipt of income tax receivables ($16.7 million income tax receivable
on the balance sheet as at Q1-20)
Other non-core assets (Orca quarry, private timberlands, non-core lands)
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First Nations partnerships
Liquidity remains a key priority and near-term focus and we continue
to explore all opportunities to strengthen our balance sheet
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