Prospectus - Offering of Rights to Subscribe for 167,069,361 Subscription Receipts

Richmond, BC – Catalyst Paper Corporation (TSX:CTL) announces, in accordance with an interim order from the British Columbia Superior Court (the Court) dated January 17, 2012, that a hearing (the Hearing) is scheduled to be held on February 3, 2012 with respect to its previously announced recapitalization transaction.