RICHMOND, BC, - Catalyst Paper Corporation advises
that under order of the Supreme Court of British Columbia authorizing
procedures for a sale and investor solicitation process, the following
notice was published today in The Globe & Mail and The Wall Street
Journal:
TAKE NOTICE THAT pursuant to certain Court Orders of the Supreme Court of
British Columbia (the "Court") in respect of Catalyst Paper Corporation and
related entities (collectively "Catalyst Paper") in the matter of the
Companies' Creditors Arrangement Act, the Canada Business Corporations Act,
and the British Columbia Business Corporations Act, Catalyst Paper obtained
Court approval to conduct a sale and investor solicitation process (the
"SISP"). Pursuant to the SISP, Catalyst Paper, with the assistance of its
financial advisor Perella Weinberg Partners LP ("Perella"), is soliciting
proposals from prospective strategic and financial parties to acquire the
property, assets and business of, or to invest in, Catalyst Paper.
Catalyst Paper manufactures diverse specialty mechanical printing papers,
newsprint and pulp. Its customers include retailers, publishers and commercial
printers in North America, Latin America, the Pacific Rim and Europe. With
four mills, located in British Columbia and Arizona, Catalyst Paper has a
combined annual production capacity of 1.8 million tonnes. Catalyst Paper is
headquartered in Richmond, British Columbia, Canada and is ranked by Corporate
Knights magazine as one of the 50 Best Corporate Citizens in Canada.
The SISP contains certain timelines that are required to be met including a
requirement that parties who are interested in participating deliver certain
information and take certain steps no later than June 6, 2012.
The Court appointed PricewaterhouseCoopers Inc. as the Monitor (the "Monitor")
of Catalyst Paper. A copy of the Court Order approving the SISP, as well as a
copy of the SISP and related documents, can be found on the Monitor's website
at the following link: www.pwc.com/car-catalystpaper
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