Haida Enterprise Corporation Acquires Tree Farm License 60

On June 28, 2012, Haida Enterprise Corporation ("HaiCo") announced its acquisition of Tree Farm License 60 ("TFL 60") and associated infrastructure in Haida Gwaii from Western Forest Products Inc. for $12.2 million net after adjustments.

TFL 60 covers more than 130,000 hectares on Graham, Moresby and Louise Islands and is the largest forest tenure on Haida Gwaii. Taan Forest Limited Partnership, HaiCo’s forestry company, also holds other forest tenure in the Haida Gwaii Timber Supply Area. The two tenures have a combined allowable annual harvest of more than 440,000 cubic metres. All of Taan’s forestry operations and product supply chains were recently certified to the Forest Stewardship Council® standard.

The acquisition is an integral part of HaiCo’s core Strategic Plan to develop a diverse, sustainable economy on Haida Gwaii for the long-term well being of the Haida People and culture.

Davis LLP represented HaiCo in this transaction with a team led by Robert Banno (aboriginal /corporate) and Garry Mancell (forestry) that included Danielle Jarvis (corporate) and Angeline Nyce (forestry /corporate).