West Fraser Enters into Automatic Share Purchase Plan

VANCOUVER, Dec. 21, 2018 /CNW/ - West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") announced today that, in connection with its normal course issuer bid previously announced on September 17, 2018, West Fraser has entered into a new automatic share purchase plan pursuant to which the securities dealer acting as the Company's agent for the normal course issuer bid may acquire, at its discretion, common shares of West Fraser on West Fraser's behalf during the quarterly blackout period of the Company for its fourth quarter 2018 results commencing January 1, 2019, subject to certain parameters as to price and number of shares. The Company's normal course issuer bid commenced effective September 19, 2018 and will terminate on September 18, 2019.

The Company

West Fraser is a diversified wood products company producing lumber, LVL, MDF, plywood, pulp, newsprint, wood chips and energy with facilities in western Canada and the southern United States.

West Fraser shares trade on the Toronto Stock Exchange under the symbol: "WFT".

Forward-Looking Statements

This News Release contains certain forward-looking statements about potential future developments, in particular those relating to the intent of West Fraser to purchase and  cancel shares, the price of West Fraser shares in comparison to West Fraser's assessment of their value, the number of shares that may be purchased and the terms of West Fraser's normal course issuer bid and to the purchase of shares of West Fraser by its agent for the normal course issuer bid pursuant to the terms of the automatic share purchase plan. These forward-looking statements are presented to provide reasonable guidance to the reader. Their accuracy and the actual timing of such purchases depend on and are subject to a number of assumptions, risks and uncertainties and other factors, including West Fraser's results of operations and changes in general market conditions. Accordingly, readers should exercise caution in relying upon forward-looking statements and West Fraser undertakes no obligation to publicly revise them to reflect subsequent events or circumstances except as required by applicable securities laws.

SOURCE West Fraser Timber Co. Ltd.