Richmond, (BC) – Catalyst Paper Corporation (TSX:CYT) today announced that the U.S. Department of Commerce (DOC) issued Preliminary Results in its expedited review of Catalyst, finding that Catalyst received a negligible (de minimis) amount of subsidies during the applicable period of review and therefore, subject to confirmation in the DOC’s Final Results, Catalyst’s exports of supercalendered paper (SC) into the U.S. market would not be subject to countervailing duties.
Richmond, (BC) – Catalyst Paper Corporation (TSX:CYT) today reported significantly improved operating results for the quarter ended September 30, 2016 despite a non-cash impairment write-down of $186.4 million on fixed assets at our Powell River, Port Alberni and Crofton paper mills resulting in a $185.0 million net loss in the quarter.
Richmond, (BC) – Catalyst Paper Corporation (TSX: CYT) ("Catalyst" or the "Company") today announced that it has entered into a support agreement (the "Recapitalization Support Agreement") with securityholders representing about 70% of the Company's outstanding common shares (the "Common Shares") and 87% of its 11% PIK Toggle Senior Secured Notes (the "Notes") in respect of the previously announced alternative recapitalization plan.
Richmond, (BC) – Catalyst Paper Corporation (TSX:CYT) ("Catalyst" or the "Company") today announced that it has received an alternative recapitalization proposal to be implemented if the previously announced acquisition proposal by Kejriwal Group International (“KGI”) is not completed. The Board of Directors believes that the availability of such an alternative is in the interest of the Company and all of its stakeholders, and had requested that holders representing about 79% of the Company’s outstanding common shares and 87% of its 11% PIK Toggle Senior Secured Notes (the "Principal Securityholders") consider making or supporting an alternative proposal.
Richmond, (BC) – Catalyst Paper Corporation (TSX:CYT) is pleased to announce that Sunvault Energy Inc. and Aboriginal Power Corp. have discontinued the lawsuit previously commenced against Catalyst. The commencement of the lawsuit was previously announced and described in the company’s news release of January 25, 2016.